Quote:
Originally Posted by thrillobyte
To be clear it was under GW Bush's leadership that the whole underpinnings of the 2008 meltdown were allowed to build. It was GW Bush who asked Congress on September 20, 2008 for the authority to spend as much as $700 billion to purchase troubled mortgage assets and contain the financial crisis. By the time Obama came in the bank loans were already in place. Punishing the banks could have only exacerbated the crisis. We were a hair's length from total collapse.
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To be honest, it was the democrats who passed both bailouts. Obama and Biden voted for bank bailouts. 70% of the house dems sold out while only 45% of the repubs did on the bank bailout.
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