The Corner

Both a Hit and a Miss on TARP

Rick Santorum made a really effective hit on Gingrich and Romney on their support for TARP, but then he sort of lost the thread of his argument by talking about “letting companies fail” without very quickly moving on to the reason to let companies fail: By an orderly bankruptcy, you allow new companies to move in and create new jobs faster. In short, he never got to the positive part of “creative destruction,” so his policy point was lost, even though his hit on Gingrich and Romney did at least linger in the air unanswered and thus with at least some effectiveness. 


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