Another (Senator) Richard Shelby (R) campaign ad fails the truth test

[yallerdawg]

Source: al.com by Kyle Whitmire

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A new campaign ad going up this week portrays the Alabama Senator as a fierce opponent of Wall Street bailouts.

"Bailouts reward failure and punish taxpayers," the woman in the new spot, Shannon Riley, owner of One Stop Environmental, says. "You know that. Senator Shelby knows that. Then why is Washington so stupid?"

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The problem is that TARP was signed into law in October 2008 by then-President George W. Bush.

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But here's the thing — TARP actually worked. And it didn't merely save the financial industry from apocalyptic collapse. The federal government put $426.4 billion into TARP, and by the time the program ended six years later it got $441.7 billion back.

That's right. The federal government saved the banks and made money doing so. Really, when was the last time a government program made money?

The rest of the story at: http://www.al.com/opinion/index.ssf/2016/01/another_richard_shelby_campaig.html#incart_most-readnews

[Third Doctor]

1. I've seen those adds and they are hard to sit through.

You have one person saying that it was stupid to bail out the banks? So letting them collapse is going to help a already failing economy? I didn't like it at the time but I knew it had to be done. Shelby is trafficking on the sheer ignorance of a lot of his supporters. Saving the banks in a economic crisis is not rocket science and has been done before. It smacks of selfishness and that's a hallmark trait of a repug.