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Bush leveraged $350 Billion of the $700 Billion in TARP funds, and purposely left the remaining half to be quashed by his successor, or to spend it if needed.
Good point and lets not forget this little tidbit.
"The bill was a bipartisan effort, with 40 Democrats, 33 Republicans and independent Joe Lieberman of Connecticut voting for it. The two presidential nominees, Democrat Barack Obama and Republican John McCain, returned from the campaign trail to vote for the plan."
Thank you. You are exactly right and thats my point. This waste was not a bush only club. It was a bi-partisan spendfest.
Oh and lets not forget that many who voted for it later admitted to not even reading what they were voting for. In other words they voted because their party told them too.
Identical twins. The rhetoric is the only difference.
Location: Jonquil City (aka Smyrna) Georgia- by Atlanta
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Quote:
Originally Posted by shorebaby
Good point and lets not forget this little tidbit.
"The bill was a bipartisan effort, with 40 Democrats, 33 Republicans and independent Joe Lieberman of Connecticut voting for it. The two presidential nominees, Democrat Barack Obama and Republican John McCain, returned from the campaign trail to vote for the plan."
I disagreed when Bush did and I disagreed when Obama did it. The problem is when people make the claim that Bush ruined the country especially when Obama has changed little of what Bush did.
One of your posts in a different thread was one of the several recent posts on this matter that prompted me to write this. You said Obama was to blame for AIG and Bush was not. Is that not revisionist?
I'm not arguing about whether Obama is or isn't changing what Bush did. What I'm trying to figure out is why the sudden misinformation campaign that is trying to pin the whole of the TARP to Obama.
Why do these threads always seem to leave out the fact that a democrat controled congress passed the bills in the first place?
Its almost as if the OP's intentionally ignore the fact.
Oh let me guess Bush lied to them and tricked them into writing this waste.
I'm not ignoring that fact at all. I've consistently been against the bailouts since last summer. You can search my previous post from then if you want and you'll find I'm consistent about it. The three page "bill" was rushed through in what at this point was probably the last "bi-partisan" vote we've had.
One of your posts in a different thread was one of the several recent posts on this matter that prompted me to write this. You said Obama was to blame for AIG and Bush was not. Is that not revisionist?
I'm not arguing about whether Obama is or isn't changing what Bush did. What I'm trying to figure out is why the sudden misinformation campaign that is trying to pin the whole of the TARP to Obama.
Look no further than the ruling party for your answers. They voted for it including Obama. Let them answer honestly as to why they did it and why they didn't restrict TARP funds from being used for bonus pay outs.
Bush is long gone. But those who voted for the bill are still in power.
So Obama does own a share of the blame.....
I'm not ignoring that fact at all. I've consistently been against the bailouts since last summer. You can search my previous post from then if you want and you'll find I'm consistent about it. The three page "bill" was rushed through in what at this point was probably the last "bi-partisan" vote we've had.
Then are you also against those in power who whole heartedly agreed with the bill enough to vote for it? Those who actually helped to write it?
I too was and am against the buyouts. More to the point I hold those in power accountable for it. I do not accept the premise that Bush was President so the fault went with him when he left office.
Who led the democrat led congress? That would be Pelosi.. She deserves as much credit as Bush.
Thankfully the health insurers haven't yet been bailed out.
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