the purpose of the TARP money is *not* to stimulate the economy or save banker's jobs. For better of for worse, finance is considered a vital service without which the economy would more or less cease to exist. (Think if the electrical generation firms massively miscalculated on some money making scheme and were all going to shut down because of it.)

Given that's the case, the purpose is not to save banker's jobs by hiring Americans, but to keep the vital services functional as cheaply as possible, i.e. buy foreign.

So, in fact, it does make sense. of course, you're free to disagree with the original premise (the banks are necessary). But blaming the banks for doing what they're supposed to do with the money is a bit much.

Not that the optics look good, but given things, if they'd hired American, we'd probably be complaining about spending on overpaid bankers salaries when much cheaper substitutes were available.

Posted by: Tom West on February 1, 2009 4:31 PM

I thought one of the arguments for the bank bailout was that "we" might actually make money on it.

Posted by: Lester Hunt on February 1, 2009 9:36 PM

A lot of people seem to be really angry about this situation with the octuplets. What is interesting is that none of the institutions - the doctors, the govt. -- can or will condemn this lunacy. It is as though our institutions have no role in supporting simple common sense and standing up for what is right even when there is a consensus among the populace. Our institutions seem to be politically correct ATMs only good for handing out the cash; their only role in America is a destructive one.
sN

Posted by: sN on February 1, 2009 10:41 PM

The purpose of the TBRP is not to stimulate the baking industry, or save baking jobs. For better or worse, baking is considered a vital service without which bread would more or less cease to exist. You're free to disagree with the original premise (that bread is necessary), but blaming Wonder Bread and Nabisco, and the other bakeries too big to fail for... wait ... there are other bakeries, aren't there? Lot's of them. Oh never mind.

Posted by: California Bongo Boy on February 2, 2009 12:03 AM






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