Why the crazy right never understood a problem existed

And keeping one of the critical team members (who some might suggest is a liar) surely didn’t help. These people still think there was never a problem and failing to hammer away at the reality is still costing Obama.

Senior U.S. officials deliberately created the impression last year that banks receiving huge government cash infusions were healthier than was the case, a Treasury Department watchdog’s report released Monday said.

As a result, the government and the bailout lost public credibility when the financial crisis deepened.

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke said at the time that their dramatic force-feeding of $125 billion into nine banks in October 2008 was a program for “healthy” institutions.

An American in Paris, France. BA in History & Political Science from Ohio State. Provided consulting services to US software startups, launching new business overseas that have both IPO’d and sold to well-known global software companies. Currently launching a new cloud-based startup. Full bio here.

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