I keep hearing the president say he’s responsible for keeping the country out of a Great Depression. No, no, no, that was President George W. Bush and Hank Paulson.Mitt Romney • At a town hall meeting today. We’re no political strategists, but we’re wondering how helpful it is for a presidential candidate to make a statement now, in 2012, that’s both pro-George W. Bush and pro-bailout. TARP, for instance, is currently sitting with a net -13 approval rating. Not exactly a winning issue. source (via • follow)
» Not all is rosy in Bailoutville: One of the biggest issues we still face are the dual sinkholes of Fannie Mae and Freddie Mac, which have reportedly cost taxpayers $150 billion and we like to think of as dual sinkholes. And some legislators feel that the effect has set us up for having to bail out unsuccessful companies in the future.
» Says who?: The White House’s Treasury Secretary, Timothy Geithner, suggested that the final bill for TARP could be 7 percent of the original cost – or less, depending on how the markets go. But don’t expect anyone to gloat about this. TARP is political poison.