Bailouts Not Working

As we’ve seen from the precipitous decline in Citigroup (C: 3.52, -2.062, -36.94%), after Citi got about $50 billion worth of TARP money, TARP loans don’t seem to be doing much, except wasting more tax dollars more quickly than any government boondoggle in history. - FOX Business

As for TARP loans to the auto companies, UAW president Ron Gettelfinger said that he hasn’t talked to one Treasury official about whether GM or Chrysler are coming up with viable plans to use tax dollars wisely. Here’s what he told The Wall Street Journal: “We have no documents, no contact with the federal government.” - FOX Business

Of course, inside the Beltway, politicians are singing praises of TARP, saying that things would have been much worse without it. But outside the Wonderland of Beltway make-believe, it’s time to get honest about TARP. It’s not working. Citi’s getting worse, despite TARP money. General Motors (GM: 3.92, 0.05, 1.29%) doesn’t seem to be doing anything different with TARP money. So let’s shut TARP down…before we waste another dime. - FOX Business

It is amazing that people just don't get it. Ford took it in the rear with the auto bailout. Telling the Government that they had enough money to last short term, while Chrysler and GM got Billions and then ran out and have started back with the 0% interest and Employee pricing cutting into Ford. Sometimes you just have to let the weak fail and the strong survive.

Instead, our great leaders are going to throw another $350 Billion at it and are working on more than $1 Trillion more.