There has been a lot written to try and explain the banking bailouts, especially the Troubled Asset Relief Program (TARP). Recently, a lot has been made about these TARP loans actually being profitable for the U.S. government. Additionally, a few places have begun uncovering the actual cost of the bank bailouts.
Below is a video we found that attempts to explain the bank bailouts in a straightforward way. While it is definately done tongue-in-cheek throughout most of it, it raises some good questions. While we are not vouching for the validity of everything it claims, much of it sounds familiar to the massage we heard from former FDIC Chairman Bill Isaac when we interviewed him in July 2010, be sure to check out his comments as well.
After you watch the video and read what Isaac says, we would love to hear your thoughts on the subject. Were the bailouts necessary? Should TARP be considered a success?