By now the conventional wisdom has concluded that TARP, the Troubled Asset Relief Program enacted in 2008 by Congress and the Bush administration, saved the financial system.
Some agree; some do not.
Today at Forbes Richard Salsman makes the case against TARP. To his mind TARP made things worse. He also argues that government interference in the markets bore considerable responsibility for manufacturing the crisis.
Salsman offers a cogent and informative analysis. I’ll leave it to others to decide whether he is right or wrong.
let us not forget that the original intent of TARP was to purchase troubled assets off the books of struggling banks, thus the name. It was not a loan program ...
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