rightwinger
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- Aug 4, 2009
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right winger to start with what did BHO do to fix the stock market?
Tarp?
oh thats right, GWB did that with tax payers welath, that un like the UAW bailout
we got back
you want to talk about lost wealth?
GWB took 250 billion and stopped the stock market crash
BHO as taken over 1 trillion dollars and we have lost 6 million jobs sense 08
And you talk about lost welath?
the market was
What did Obama do?
Thanks for asking. The stock market dropped from a high of 14,000 to a low of 6600. The market was in a panic and everyone was bailing out. The financial sector and the automotive industry were on the verge of collapse and we were on the verge of a depression. Nobody and I mean nobody was willing to step in and prop up the collapsing market. Only the US Government had the resources to stop the collapse.
I give credit to Bush for finally waking up, telling the right wing to go fuck itself and start TARP. What Bush did wrong was he just threw money at them. Three months later they were asking for more money. Obama started a second round of TARP and this time he demanded changes in management structure and organization as a condition of accepting money.
Nobody was willing to put money into our failing economy. We were losing jobs at 700,000 a month, The Stimulus bill put $800 billion into our economy. It was an attempt to prime the pump and get the economy moving again
The result was immediate as the economy reversed within weeks of passing TARP/Stimulus. The GDP went positive again and the market reversed and went from a low of 6600 to 12500 today
Demanded changes in MGMT structure
that really helped the situation alot
Besides whether you like it or not, Wall street was as much a victim of those worthless securities as we were
Difference was they got bailed out (which bailed out many peoples investments also)
Stimulus?
Can you point to me where the money from the stimulus helped Exxon?
Apple?
Google?
INCY?
Maybe here?
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I, for one, am sorry that Exxon missed out on another government handout. But I am thrilled that GM and Chrysler are on sound footing again