Posts tagged with: tarp

Blog author: jwitt
posted by on Monday, August 20, 2012

Some proponents of limited government understandably yearn to see Mitt Romney’s recently announced running mate, Paul Ryan, as something like the pure intellectual descendent of Friedrich Hayek and Milton Friedman. Some on the left, meanwhile, will be tempted to portray him as a heartless monster who only wants to enrich the 1 percent. Paul Ryan the politician is more complex than either portrait. Far from throwing granny under the bus, his efforts at budget reform are an essential step in saving Social Security and Medicare, along with improving the long-term fiscal health of the nation. On the other hand, and although his American Conservative Union score is a solid 91.69, he did vote for TARP, the bank bailout, and the auto bailout–government intrusions he has said he now partially regrets.

The personal side of Paul Ryan also doesn’t fit neatly into many preconceived categories. His extended family is financially successful, but he lost his father when he was 16, attended a public university, and worked a variety of summer and side jobs during and after college to make ends meet. As a teenager he helped take care of his grandmother who had Alzheimer’s.

He’s a socially conservative Catholic, and a fan of grunge rock, Beethoven, Led Zeppelin, and Hank Williams, Jr. He’s an outdoorsman who bow hunts, does his own skinning and butchering, and kills catfish with his bare hands. And he’s married with three children, with a wife, Janna, who is a stay-at-home mom with degrees from Wellesley and George Washington University.

For more, here is a piece in which Ryan discusses his votes for TARP and the bailouts; here is a breakout of the American Conservative Union’s 91.69 conservative score for Ryan; and here is a short biography.

UPDATE: The Janesville Gazette has just published an Extra that pulls together their local pieces on Ryan and Janesville along with some national stories and policy resources–a nice one stop resource.

Blog author: jballor
posted by on Tuesday, December 23, 2008

You can view the most recent list of those companies that have received bailout assistance from the federal government via the Emergency Economic Stabilization Act of 2008 (EESA), executed through measures like the Troubled Asset Relief Program (TARP), here (PDF updated 12/16/08).

I’m thinking about adding these companies to my own personal “naughty” list.

Visit the EESA homepage, where you can sign up for EESA e-mail updates as your tax dollars are spent for you. “How is this money being spent?” you might ask. Well, in the interest of full disclosure, the government has not required any special reporting for how the bailees are using these funds.

Remember that rush to push the bailout through right before the election, when the government and the media were telling us that Congress needed to hurry up and authorize the use of more money than has been spent on the entire Iraq war? The legislation appears to be so sloppy that it allows the executive branch to distribute the funds as it pleases, without any accountability for how the funds are being spent, and without any restrictions on what sort of industry qualifies.

I guess it’s more important that the money gets spent rather than how it gets spent.

Since government is now in the business of rewarding failure (call it a “demeritocracy”), nominate those most deserving of money from the bailout in the comment boxes below. Here’s a list to get you started: