- Aug 4, 2009
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- #21
America lost $13 Trillion in personal wealth in the Bush Stock Market crash. Most of that has been regained.
Good News for anyone with investments, 401K or retired
Its to bad that the left turns every economic event into the creation of some government program because I can't think of anything that Obama did that caused the stock market to rebound. You assume it was caused by tarp but that was done by George W. Bush so how can it be Obama's fault that that happenned.
I can't think of anything that the government does that makes the economy better but I can think how it makes things more difficult for businesses to operate with taxes and regulations and that seems to be the battlecry of the democratic party so the next time a democrat charges into a battle for economic recovery screaming "taxes and regulations" I realize that they are declaring war on businesses which is a war against recovery.
Thanks for asking
You can't think of one thing? The reason the market crashed was that they were in a financial panic because it looked like the banks would fail. Bush and Obama passed TARP because it was essential to show that the Government would stand behind the banks. Once the banks stabilized, the market began to recover.
When did the recovery begin? Two weeks after the passing of the economic stimulus package. The promise of nearly a trillion dollars influx into the economy reversed the panic and lead to one of the largest stock rebounds in history
This is a prime example of how the Government can save the economy