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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (9315)3/16/2009 11:44:22 AM
From: pompsander  Read Replies (2) of 103300
 
Perhaps you saw Ben Bernanke on 60 Minutes last night. Very illuminating interview. Bernanke points out the key moment for the current crisis occured at the end of September and the first week of October, culminating in the first TARP legislation in the first week and the fallout from it beginning in week two.

While not spoken in so many words last night, Bernanke has implied before that he had trouble getting Bush/Paulson to pay attention to the looming meltdown....and only when it was deadly imminent could he (and others) get focus from the Executive branch. The resulting TARP legislation has pleased no one, partly because it began as Bush/Paulson's "give me a trillion dollars and ask no questions" demand. this exasperated the problem. No time for analysis. We were told it was going to be the end of the world unless we gave in...

Yes, Obama has stumbled and his budget is bloated, etc. We could hope for better. (I prefered and still prefer the bad bank approach, which we were told was going to come out of TARP. Still waiting!).

But it was not so long ago we had a different executive branch that seemed as clueless as the one now. In fact, they seem terribly similar to each other.....

Eating cake or fiddling while the economy begins to melt...plenty of blame for all concerned.
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