Really? Now, admittedly, I'm a retired BHOF and I've slept since then, so my memory might well be a bit muddled, but as I recall the Stimulus package was originated and signed into action by a Republican POTUS, to wit: GeeDub.
Right?
Wrong, Nancy Pelosi democrat congress, Harry Reed democrat senate, January 2007, two years prior to GWB leaving office.
The Troubled Asset Relief Program, known as TARP and more familiarly as "the bank bailout'' was hastily put in place in September 2008 as stock markets plunged, credit markets around the globe seized up and the world seemed on the verge of a cataclysmic financial meltdown.
Congress authorized the Treasury Department to use up to $700 billion to stabilize financial markets through the program -- a step that inspired widespread public outrage, helping to fuel what became the Tea Party Movement, and, in the mind of most economists, one that played a crucial role in pulling the global economy back from the brink.
The Treasury never tapped the full $700 billion. By the time its authority to spend the money expired on Oct. 2, 2010, it had committed $470 billion and disbursed $387 billion, mostly to hundreds of banks and later to A.I.G., the car industry — Chrysler, General Motors, the G.M. financing company and suppliers — and to what has been, so far, a failed effort to help homeowners avoid foreclosures.
The stymulus was also Pelosi and Reed with Obama.
