Bush- not Obama- Enacted TARP and Signed the Bank Bailout into Law

[Brooke]

This one really drives me up the wall--

Robbie Gennet

Writer of words and music, rider of waves, world traveler
Posted: August 11, 2010 01:13 PM
Bush- not Obama- Enacted TARP and Signed the Bank Bailout into Law

President Bush- not President Obama- enacted TARP and signed the Bank bailout into law towards the end of his presidency. And yet a large percentage of Americans believe that Obama is responsible, according to the latest Pew survey:

Only a third of Americans (34%) correctly say the Troubled Asset Relief Program (TARP) was enacted by the Bush administration. Nearly half (47%) incorrectly believe TARP was passed under President Obama. Another 19% admit they do not know which president signed the bank bailout into law. Notably, there is no partisan divide on the question. Just 36% of Republicans, 35% of independents and 34% of Democrats know that the government bailout of banks and financial institutions was signed into law by former President Bush. And Democrats (46%) are just as likely as Republicans (50%) to say TARP was passed under Obama.

How are so many people misinformed about the TARP "bailout"? It's not just Fox-watching Republicans (who are often grossly misinformed by the channel) but Democrats as well. Doesn't anybody check their facts anymore? Or do people just choose the facts that support the narrative they want to believe? Bush bailed out the banks and fueled the greatest Recession in generations. Why blame it all on the guy trying to clean up his mess?

http://en.wikipedia.org/wiki/Troubled_Asset_Relief_Program

http://en.wikipedia.org/wiki/Emergency_Economic_Stabilization_Act_of_2008

[Brooke]

August 12, 2010 11:23 AM
More Americans think Obama, Not Bush, Enacted Bank Bailouts, Poll Shows

By
    Stephanie Condon



Nearly half of Americans incorrectly think President Obama started the the bank bailout program, otherwise known as the Troubled Asset Relief Program (TARP), a new poll shows.

Just 34 percent of Americans surveyed by the Pew Research Center correctly said that TARP was enacted by the Bush administration. Almost half -- 47 percent -- think Mr. Obama started the bank bailout, according to the survey, conducted July 1-5. There was no partisan divide on the issue.

The TARP program was created in 2008 to stabilize the financial system. The Treasury Department has committed more than $500 billion to more than 800 firms through the program. While Mr. Obama did not enact TARP, his administration has largely been responsible for administering it.

A CBS News poll conducted in April found that just 39 percent of Americans said providing government money to banks and other financial institutions was necessary to get the economy out of recession. Another CBS News poll from January of this year showed that 49 percent of respondents said the Obama administration has done too much for the banks. The administration has characterized TARP as one of the "unpopular but necessary" steps needed to help the economy.

http://www.cbsnews.com/8301-503544_162-20013452-503544.html

[Brooke]

No Really?! Voters Blame Bush, Not Obama For EconomyWritten by Casey Gane-McCalla, Lead Blogger on July 14, 2011 1:16 pm



WASHINGTON  — According to a new Quinnipiac poll, voters still blame former President George W. Bush for the economy and not President Barack Obama two and half years in to Obama’s first term.

Yahoo reports:

    According to a new Quinnipiac poll, 54 percent of those surveyed say Bush is responsible for the “current condition” of the economy, compared to just 27 percent who blame Obama. Among self-described independent voters, a key 2012 voting bloc, the number shifts slightly: 49 percent point the finger at the former GOP president, while 24 percent blame Obama.

http://news.yahoo.com/blogs/ticket/voters-blame-bush-more-obama-economy-143014602.html

[Brooke]

Put Republicans Back In Charge?

September 15, 2011
By Nurse Pam


I firmly believe that Republicans who filibuster just about every step Democrats have tried to take, is the main stay of our current problem in the United States. How is Obama supposed to get anything done under such circumstances?

Do you recall what the Republicans promised the day after Obama took office? They said, “Our main goal is to make sure President Obama fails”.

Wow, Republicans boldly and arrogantly announced that they were going to put party ahead of their fellow Americans. What few people thought of is, if Obama fails, we as a country fail too. But that doesn’t seem to matter to Republicans. All that matters to them is making sure Obama fails…at all costs.

Today people angrily point their finger at President Obama for helping the “banksters”. We all agree the bank bailout sucked, period. But we were heading for another great depression, all thanks to the Republican mantra, “deficits don’t matter,” along with the two unpaid wars while giving historic tax cuts to the wealthy. President Obama was placed between a rock and a hard place, thanks to a past government operated by the Republican Corporate Cult. And then we wonder why the USA is having financial difficulties?

You know what’s funny? I have a daughter that is a junior in high school. Yesterday she was studying for her American Government class and asked me, what is deficit spending? I replied by asking, what does your book say? She answered, “It’s spending money that is borrowed”. She went on by asking, is it true that President Bush borrowed money to pay for two wars, while giving tax breaks to the wealthy? I said that’s right. With a confused look on her face she continued by saying, “So the government granted tax cuts which means the government had less money coming in, while borrowing money to pay for two wars?” I said yep. I could see her thoughts racing as she wrinkled her face and replied, Mom that’s just stupid!

http://www.addictinginfo.org/2011/09/15/put-republicans-back-in-charge/

[Brooke]

[Brooke]

If a teenager can figure this out, why can’t politicians figure that out? Maybe politicians just don’t care?

What scares me is one of the GOP candidates winning the office of Presidency. If one of them becomes President, the Republicans WILL be back in charge. Not too long ago they had the keys to the car and look what happened. Do we really want to go there again?

[Allison]

Thanks For Blaming It On The Black Guy

By ThePresidentialCandidates.US on Aug 20, 2010 in Barack Obama

[img]http://t1.gstatic.com/images?q=tbn:ANd9GcQ0bDynJ2oH1WPHGFp2HBOS1nAeUgwgz7z5RtfTOkooOr1zw6rDPhzhPgI/img]


George W Bush ****ed Us All

A great example of this “blaming it on the black guy” is that according to a recent poll more Americans think the bank bailouts (TARP) happened under President Obama (47%) than think they happened under President Bush (34%)! To be clear, the bank bailouts happened under Bush.

http://www.thepresidentialcandidates.us/thanks-for-blaming-it-on-the-black-guy/1223/

[Volitzer]

Bush, Obama, Perry, Romney, Hillary, Cain, etc.  all globalists working for team Bilderberg.

Does it really matter which party label they use if they all are hell bent on betraying us ?

[Krista Davenport]

Of course it matters. Hank Paulson (Bush's guy) came to Congress in September of 2008 demanding seven hundred billion dollars because the economy was about to collapse - with no strings attached!  Had Obama been in charge, there would have been conditions:  there would have been restrictions in CEO pay, management would have had to resign and we might have even been able to nationalize the banks. Obama put similar conditions on the loans to the automakers. So the banks WOULD have been lending again.

Since it happened under Bush, they just took the money and raised their fees to pay back the government.  So yes, it makes a difference.

[Volitzer]

Right despite all the stimulus spending more people are unemployed now than ever.  Bush & Obama are to blame cuz they are working together.  They laugh as America struggles and suffers.

[Krista Davenport]

The hell they do, Obama has been trying to help people, Bush only helped the rich people. There is a difference!

As for jobs, Obama's stimulus saved or created three million jobs by estimates (Santorum said it created 240 million jobs).  It should have been bigger. The difference is that during the Bush recession, we lost eight million jobs!  We were losing 800,000 a month when Obama took office. No one could turn that around that quickly. The private sector is growing jobs again, the problem right now is that Republican Governors, like Walker, Scott and Kasich are laying off public sector workers, so it screws up the numbers.  Obama doesn't have anything to do with that, it"S A Republican thing.

[Volitzer]

Obama is creating jobs cuz he is once again in campaign mode.  If he gets elected again it'll be more of the same.  The same Bilderberg Agenda.  The same 3rd Worldization of America.

Both players are on the same team.

[Krista Davenport]

As opposed to Ron Paul, who simply wants to lift all regulations and free trade restrictions on all companies, do they can screw us over as much as they like. Bright!

Ron Paul = Exxon's best friend.

[Volitzer]

Companies are already screwing us over.  They are the ones outsourcing and offshoring jobs under Obama just as much as Bush.

The Globalists in Congress have made it nearly impossible for American businesses to operate.

[Krista Davenport]

Who's fault is that?  Do you know how much resistance there is to changing the tax code? Obama can't just change it over executive order, nor could any other President.  He has said he WANTS to change the tax code and close these loopholes, but the Republican Congress doesn't want to work with him, apparently because he's black and they're all bigots.