In fact, as someone who followed it in real time at the time, as my job, McCain's numbers beat Obama's when he opposed the bailouts. When he changed his mind, he lost the election.
That's the actual history.
That's the actual history.
as an aside, calls on TARP to Congress were between 200:1 to 1000:1 against. There has never been a more lopsided set of calls to my knowledge.
Obama broke arms to get the bill passed. Pelosi wasn't going to pass it till he intervened.
Obama broke arms to get the bill passed. Pelosi wasn't going to pass it till he intervened.
McCain, at first, suspended his campaign and opposed TARP and bailouts. When he changed his mind, his numbers collapsed.
If McCain had stayed opposing TARP he would probably have won election.
It was also the right thing to do.
If McCain had stayed opposing TARP he would probably have won election.
It was also the right thing to do.
Obama then went on to create a housing relief program which deliberately strung underwater house-owners along so that the banks could repossess them, and had his Attorney General fine criminal banks and brokerages less than what they made, and thus immunized them.
Not only was Obama in the wrong morally and ethically, his choice to bail out banks and brokerages, rather than take them over and make rich people take their losses is why there was a lost decade economically and the economy is still bad for many people.
Obama made sure the people most responsible for the financial collapse were made whole and that the small people who at most took mortgages they couldn't afford lost everything.
That is his management of the 2008 financial collapse.
A tool of the rich, and nothing more.
That is his management of the 2008 financial collapse.
A tool of the rich, and nothing more.
You will notice that the financial industry has bought a lot of speeches from Obama since his retirement and that Geithner (treasury secretary) and Bernanke (Fed) have both been very well taken care of.
It was as clear an episode of corruption as any in American history.
It was as clear an episode of corruption as any in American history.
Obama's positive legacy is Medicaid expansion. Libya, insurance prices doubling in 10 years, economic stagnation for the bottom 80% of the population and smashing whistleblowers flat are among is negative accomplishments.
He did one really good thing, anyway.
He did one really good thing, anyway.
Until Americans and democrats come to the realization that Obama was corrupt and a tool of the rich (yes, less than Trump but still a tool of the rich) they are living in lalaland.
Obama was a bad man and a bad president who did a lot of evil and hurt 80% of the population.
Obama was a bad man and a bad president who did a lot of evil and hurt 80% of the population.
now, of course, someone will be saying "Obama couldn't have done everything else because the President is powerless".
No.
ianwelsh.net/could-obama-ha…
No.
ianwelsh.net/could-obama-ha…
And, because someone will say "but Obama had no choice but to do the bailouts the way he did..."
ianwelsh.net/could-obama-ha…
ianwelsh.net/could-obama-ha…
