Quote:
Originally Posted by Vendzilla
I don't think it would have failed without the stimulus, I remember reading about how Japan did it ten times, and it never really worked, so Obama tried it
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Yeah, I just said that.
But seriously, do you understand what you read and write?? What about the first part of what I pointed out where you conflate two things?
Again, and try and read this slowly.... Your original post and the question directed at the Representative was regarding the
bailout.
The
stimulus is not the bailout.
When the initial bailout started under Bush, it was shortly after Lehman filed for bankruptcy, which started a domino effect across the credit markets.
The Presidents of other countries were calling the White House stating that they could not get the funds they needed because the world credit markets were frozen. GE, a perfectly healthy company, was calling saying the same thing.
I'm disgusted by these events, but anyone who thinks that without the bailout there was a chance that the credit markets would have magically improved on their own without an intervening collapse is smoking crack.
.