Draw the Line Now: No TARP 2

Yeah, yeah, TARP saved the economy, yeah, yeah, TARP is being paid back and the government may actually make a profit on it, yeah, yeah, anti-TARP is a teabagger masturbation aid, yeah yeah.

Here's what matters: the crash of Lehman and AIG in September 2008 presented a huge, once-in-a-millenium chance to completely redesign the American financial system. To put it at the service of Main Street, instead of the other way around.

And we blew it.

So when Zandar's worst nightmares come true...

[UPDATE] CNBC is reporting that Bank of America has voluntarily stopped foreclosures in all 50 states. It's all coming unglued here, folks. Expect the other banks to follow suit and then of course when their stocks crater, it'll be TARP 2: Economic Boogaloo.

Count on it.

[UPDATE 2] CNBC also reporting PNC Bank is halting foreclosures in 23 states. Dominos are falling if the regional banks are getting involved.

... I say Bring. It. On.

You want another bailout motherfuckers? OK, here's the deal: Your new Master, God, and Person With Her Foot on Your Neck is Elizabeth Warren. You work for her. She will tell you exactly how you are going to be laboring - at minimum wage with no benefits and no overtime - to restore the American Middle Class to its peak of strength 40 years ago. You will also bring American Manufacturing back to life with massive investment in renewable energy and public transportation and reanimate Main Street with easy credit that favors genuinely small and family-owned businesses.

And you will do it all with a fucking smile on your faces, dammit. Now, pee in this cup and get back to your cubicle.

(Zandar has a good, simple explanation of how we got here, and what we can do to avoid catastrophe.)

Cross-posted at They Gave Us A Republic....