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  • J
    Jessie
    He feels good that he saved the banks.
    I am still angry that he let millions of citizens lose their homes, their jobs, their health insurance, and for some, their lives.

    He used so many hundreds of billions of dollars to bail out the banks, but nothing to help desperate families.

    “The Devil quotes Scripture” is something I heard as a child, and Mr. Paulson reminded me of that.
  • E
    Exmachina
    The bets against borrowers in credit default swaps still exist. The law that forbade them was repealed and despite the disaster it caused, nothing was changed.
  • R
    RONALD
    And now Republicans in Congress are loosening the rules that helped keep these investment banks in-line after they nearly destroyed the global economy, all for campaign contributions. Does that make sense to you?
  • f
    frank
    It's okay. The Banks are doing well.
    No rich people went to jail.
    All is well.
  • R
    RadioHead
    The data was there. The Government just did not do their job to look and take action before the crisis. This is why nobody went to jail. Because the government screwed-up. They knew they would get raked over the coals if it was known the elephant was sitting in their cubicle, but they didn't notice.
  • J
    Just
    Although Congress initially authorized $700 billion for TARP in October 2008, that authority was reduced to $475 billion by the Dodd-Frank Wall Street Reform and Consumer
    Protection Act (Dodd-Frank Act).Of that, the following amounts were committed through TARP's five program areas:

    Approximately $250 billion was committed in programs to stabilize banking institutions ($5 billion of which was ultimately cancelled).
    Approximately $27 billion was committed through programs to restart credit markets.
    Approximately $82 billion was committed to stabilize the U.S. auto industry ($2 billion of which was ultimately cancelled).
    Approximately $70 billion was committed to stabilize American International Group (AIG) ($2 billion of which was ultimately cancelled).
    Approximately $46 billion was committed for programs to help struggling families avoid foreclosure, with these expenditures being made over time.

    The authority to make new financial commitments under TARP ended on
    October 3, 2010
  • S
    Stephen
    The worst moments were when we realized that the fed would bail these criminals out and provide endless inflation for them.
    As long as they continue to exist no recovery is ever possible.
  • A
    Antone
    We did not EXIT the recession in June 2009! The recession started to slowly reverse itself and in most cases, VERY SLOWLY REVERSE ITSELF. So much so, that our non-existent inflation rate, that did exist ate up most of whatever gains the economy made for a longtime.
  • P
    Peter
    the crisis was completely seeable and avoidable, would not have happened if Volcker was head of central bank. there were secretaries buying two and three homes for investment while Greenspan was increasing interest rates a quarter of a point, thinking he was doing something
  • H
    Humankind
    Europe really took it in the shorts on this one- they bought all the bad debt.