Biden Returns to the White House After Bizarre Absence
BREAKING: Secret Service Director Resigns
Is This Why Biden Was Slurring His Words During Call With Kamala's Campaign...
We Know When Bob Menendez Is Leaving the Senate
CNN's Jim Acosta Did Not Just Say That Regarding Trump's Remarks About the...
Netanyahu to Meet With Trump at Mar-a-Lago
Joe Biden Resurfaces After Five Days in Hiding
Harris Locks Up Enough Support Among Dem Delegates to Become Party's Nominee
One GOP Governor Signs Bill Banning Transgender Athletes From Women's Sports
Kamala Harris Boycotting Netanyahu's Speech to Congress
Not All Dems Are Jumping to Endorse Kamala
One City Has Become a 'Non-Sanctuary' for Illegal Aliens
Should Trump Debate Harris?
A Massive Illegal Immigrant Caravan Just Left Southern Mexico for the U.S.
New Climate Change Theory: Excessive Heat Is Making Days Longer
OPINION

Romney Big Gaffe Is TARP, not Etch-a-Sketch

The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall.com.
Advertisement
Advertisement
Advertisement

Governor Romney’s campaign is catching some flak because a top aide implied that many of the candidate’s positions have been insincere and that Romney will erase those views (like an Etch-a-Sketch) and return to his statist roots as the general election begins.

Advertisement

I’m surprised that anyone’s surprised.  Hasn’t anybody been paying attention to his comments and track record on issues such as the  value-added tax, healthcare, Social Security reform, budget savings, ethanol subsidies, Keynesian economics, and the minimum wage?

In any event, people should be more agitated by his recent defense of the corrupt TARP bailouts.

Here are the key sections of a report from NBC Politics.

Mitt Romney offered an unprompted defense of the 2008 Wall Street bailout on Wednesday, crediting President George W. Bush and the preceding administration for averting an economic depression. …”There was a fear that the whole economic system of America would collapse — that all of our banks, or virtually all, would go out of business,” Romney said. “In that circumstance, President Bush and Hank Paulson said we’ve got to do something to show we’re not going to let the whole system go out of business. I think they were right. I know some people disagree with me. I think they were right to do that.”

I can understand how some politicians got panicked back in 2008 by some of the reckless and inflammatory rhetoric that Bush, Paulson, and others used to build support  for their bailout plan.

Advertisement

But it’s now become more and more obvious that there was a much better alternative (as I explained in this post giving Cheney a kick in the pants), involving a process known as FDIC resolution.

That approach would have recapitalized the banking system without the corruption, favoritism, and moral hazard that characterized the TARP bailout.

"Which one of us is Tweedledee?"

I don’t know whether Romney doesn’t understand this, hasn’t bothered to learn about the issue, or simply thinks it is good politics to be pro-bailout, but it doesn’t matter. There is no good explanation for his actions.

This is going to be a miserable and depressing election season, revolving around whether the nation should replace a statist who calls himself a Democrat with a statist who calls himself a Republican.

Join the conversation as a VIP Member

Recommended

Trending on Townhall Videos