And how did that turn out? Financial disaster, bail outs, two wars, large expansion of government, nanny state, Medicare part D, etc.
it turned out much better than the failure we have now.
not to even mention 17 trillion of debt and counting
Really? Then why was there the need for this?
"Emergency Economic Stabilization Act of 2008
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This article is about one division of an enacted statute. For the entire statute, see Public Law 110-343. For the enacted rescue program, see Troubled Asset Relief Program.
The Emergency Economic Stabilization Act of 2008 (Division A of Pub.L. 110–343, 122 Stat. 3765, enacted October 3, 2008), commonly referred to as a bailout of the U.S. financial system, is a law enacted in response to the subprime mortgage crisis authorizing the United States Secretary of the Treasury to spend up to $700 billion to purchase distressed assets, especially mortgage-backed securities, and supply cash directly to banks. The funds for purchase of distressed assets were mostly redirected to inject capital into banks and other financial institutions while the Treasury continued to examine the usefulness of targeted asset purchases.[1][2] Both foreign and domestic banks are included in the program. The Federal Reserve also extended help to American Express, whose bank-holding application it recently approved.[3] The Act was proposed by Treasury Secretary Henry Paulson during the global financial crisis of 2008."
Troubled Asset Relief Program - Wikipedia, the free encyclopedia
The 2008 Bush Bailouts — Republican Socialism!
by Ben Hoffman
No, not that stimulus. IÂ’m talking about the Bush 1.632 trillion dollars in bailouts that occurred between March 2008 and October 2008.