It’s no secret that most of America did not want the TARP (Troubled Asset Relief Program) in the first place. After the program began it came out that some healthy banks were forced by the Treasury Department and the Federal Reserve to take TARP funds, even if they didn’t need them or want them, under threat of big time government audits and other such bully tactics. Recently, when these banks wanted to return this money to free themselves of the strings attached to TARP money, they were told by the Obama Administration that this was not an option. Then when banks and the public cried foul the smarties over in the Treasury decided that TARP banks needed to pass (sham) “stress tests” before they could return the money. Are you thoroughly confused and want to throw things? If not, you should be, and you will be soon.

Today it’s being reported that the Treasury Department will require banks who return TARP funds have to prove they can operate without the backing of the FDIC.

This is where I long for the good old days, if those really ever existed anyway. TARP should have never happened. Banks should have called the government’s bluff and refused to take the money if they didn’t want it or need it. The Congress should have detailed the TARP programs from the get go, instead we see a constant shooting from the hip by the Bush administration and now the Obama administration. And in the end, if a bank was in danger of failing, it should have been allowed to fail; and the FDIC should have been able to come in secure the deposits and close the bank – just like it’s supposed to do in the first place. Instead we have a mismanaged program with no direction, headed by people who just want us to trust that they are doing what is best for the country.

I just honestly don’t know what to think anymore.