gut;1287821 wrote:I realize this is hard for you to believe, but I supported the auto bailout as necessary. That doesn't mean the Obama administration doesn't deserve criticism for the way they trampled bankruptcy law and property rights (robbing from debt holders to pay off their union constituents).
And it was pretty much teed-up before Obama came to office. All of it was (TARP, etc..). Obama just had to sign his name. The idea that Obama rescued the economy is another great myth. What has his fingerprints all over it was the $800B porkulus, which was an absolute flop like pretty much everything in the economy Obama has touched.
Ehh, actually the President was deeply involved with the 2008 crisis, as he met with Paulson a few times, and received briefings from Paulson's staff nearly daily.
Also, Geithner got into his position and still had to implement TARP, as well as ensure the credit makers did not freeze up.
Frontline did a great piece some months ago on the crisis, and how both administrations worked together to bring us from the cliff.
http://www.pbs.org/wgbh/pages/frontline/money-power-wall-street/
So, like most things, it is more complex than people here tend to believe.