Reality check:

Future generations of American taxpayers (our great grandchildren) face over a Trillion in debt.

“program unparalleled in history of depressions in any country and anytime” the quote was from President Hoover referring to his bail out scheme named New Deal during the great depression. Hoover instituted high wage rates, public works, and propping up unsound positions.

It is interesting to note that then US Treasury Secretary Mellon headed what Hoover called “the-leave-it-alone liquidationists”.

Though Mellon supported the governments inflationist monetary stance that led to the wild stock speculation and crash, he was actually against bail outs. Mellon cited the efficient working of this process in the depression of the 1870s. But he was overruled by Hoover. Hoover was supported by Undersecretary of Treasury Mills. Secretary Of Commerce Lamont, Secretary of Agricultural Hyde.

Troubled Assets Relief Program (TARP) is just a new name for the same New Deal 1 and New Deal ll.

The faces have changed but the sales pitch remains the same:

“To help the average American in main street”

Now read reality check above for translation.