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Politics : Formerly About Advanced Micro Devices
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To: bentway who wrote (526230)11/5/2009 12:56:20 PM
From: i-node  Read Replies (1) of 1578532
 

No, they were going to go into bankruptcy and cease functioning, no more loans, no more insurance. There weren't any banks or insurers of a size to take up the slack of those that would have gone under.


And Obama saved the day.

This, unfortunately, is the perception, which is utter baloney.

History will reflect that the economy was saved by Bush's fast action with TARP I. Had this not occurred, we could have seen a much bigger problem.

It is a fact of life that Obama is going to get credit for a while for saving us from certain doom. But only amongst shallow thinkers; over time, more thoughtful analysis will persevere.
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