After finishing Hank Paulson's excellent recounting of the events leading up to the financial crisis of 2008, On the Brink, I came away with a much greater appreciation for GW Bush's decisive action and clear understanding of what was happening to the United States (and the world's) financial foundations.
While there is much with the Bush administration to find fault, the Bush White House acted in opposition to self-interest, and rather worked in favor of national interest during the critical weeks of the financial meltdown. And George Bush himself, as Hank Paulson made so clear, was involved in every aspect of weathering the storm, showing a strong grasp of both the politics and the policy that led to TARP - and entity which I initially opposed, but am now convinced actually saved us from the economic abyss, and today, is actually making money for the American taxpayer.
In essence, Bush showed the resolve to "suspend the free market in order to save it" - and thus, played an integral role in helping to secure the probability that the United States would in fact emerge from the crisis far more fully intact than would have been possible without such resolve.
This country was truly on the brink folks, far more than most likely realize.
The abyss remains - and certainly with the ever growing burden of out of control spending and debt, it looms ever closer, but to his great credit, George W Bush helped bring us back from that more immiediate darkness in the fall of 2008, and for that, he deserves our thanks.
While there is much with the Bush administration to find fault, the Bush White House acted in opposition to self-interest, and rather worked in favor of national interest during the critical weeks of the financial meltdown. And George Bush himself, as Hank Paulson made so clear, was involved in every aspect of weathering the storm, showing a strong grasp of both the politics and the policy that led to TARP - and entity which I initially opposed, but am now convinced actually saved us from the economic abyss, and today, is actually making money for the American taxpayer.
In essence, Bush showed the resolve to "suspend the free market in order to save it" - and thus, played an integral role in helping to secure the probability that the United States would in fact emerge from the crisis far more fully intact than would have been possible without such resolve.
This country was truly on the brink folks, far more than most likely realize.
The abyss remains - and certainly with the ever growing burden of out of control spending and debt, it looms ever closer, but to his great credit, George W Bush helped bring us back from that more immiediate darkness in the fall of 2008, and for that, he deserves our thanks.