Six years ago
today, President George W. Bush signed into law the Emergency
Economic Stabilization Act of 2008, which of course included the
bailouts for large financial institutions, banks, and eventually
Chrysler and GM automakers. While many think of the tea party as
beginning with President Obama’s stimulus plan, TARP under
President Bush was the initial catalyst.
From the perspective of tea partiers, six years ago today,
writes Reason Foundation Polling Director Emily Ekins, the joint
forces of Republicans and Democrats in Washington sent a clear
message to the large, rich, and politically connected: they really
are too big and too favored to be allowed to fail and that poor
decision-making and excessive risk-taking may be chided but will
ultimately be rewarded.
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