Sunday, January 31, 2010

TARP Cop: Some Bailout Goals Still Unmet - TARP Cop: Some Bailout Goals Still Unmet

The government’s top bailout cop said Sunday that more than a year after the financial crisis hit, many of the goals of Washington’s $700 billion bank rescue program remain unmet and that policymakers still have not addressed fundamental problems that triggered the crisis, leaving the financial system vulnerable to another collapse.

My Thoughts
Most economists will say the same thing, "The recession is over." I disagree. I believe that we are still in the midst of it and it will get worse before it gets better. Why do I say that? Simple. The government continues to tinker in the free market system and it will cause the problems and allow the economy to founder.

So far, unemployment remains over 10%. It is only after the loss in Massachusetts and the growing dissatisfaction of the people with Washington's failure to address the unemployment rate. I talked with a friend of mine at Dell. He told me that 120 people were laid off in his area alone and walked out the door this past week.

Can anyone explain to me with the President's new rhetoric on jobs why this is occurring? With companies dealing with more and more government involvement in their business processes, I believe they will continue to lay people off and outsource their jobs. As I mentioned before, I am not for completely deregulating an industry. I believe the government has to be there to maintain some control. However, it needs to know when to do things and when to remain hands off.

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