Banks are sounding surprised that the government won’t let them give back TARP money and free themselves of governmental restrictions. There are obviously some very smart people on Wall Street, far smarter than I, but it’s just as obvious that they weren’t studying political science and philosphy in college. If they had, those “soft courses” would have tipped them off to what was at stake last fall.
The government couldn’t care less if it doesn’t get back the $10 billion it loaned Goldman or the billions it forced on other banks – it’s just taxpayer money, after all. The point, the sole purpose of TARP was to grab ahold of the financial industry and twist it to the politicans’ whims. So having seized control, of course they aren’t going to relinquish it. The fun has just begun.
I saw some poor dolt of a business professor on the news tonight saying, “well, gee, they won the election so I guess we all have to accept more regulation – I just hope they don’t go too far.” That’s been the cry of businessmen and producers since the dawn of civilization – they produce and work in the vain hope that the looters will restrain their greed. But it’s power these people are after, not money – they’ll always be enough of the latter for the people at the top, just ask Castro. Businessmen don’t see this and that’s going to doom them.