I met a Tea Partier the other day and asked him, "didn't we socialize the American financial system while George Bush was president?" He answered with an emphatic, "NOT POSSIBLE!" I said, "Don't you remember when Hank Paulson said he needed $700 billion, 'quick and clean,' with no strings attached to spend as he saw fit?" I told him, "The first time Congress voted on the $700 billion bailout it failed and the DOW sank 800 points the next hour." The Tea-Partier thought that was funny. George Bush made a speech from the Oval Office later that week saying "We need $700 billion to recapitalize the American financial industry."
Romney's stated policies in business during the first presidential debate: champion the growth and development for the middle class. Until now, Romney's position was widely perceived as one of the biggest enemies to the middle class. One of his most powerful moments during the debate was the contrast he illustrated between the president’s decision to finance the five big banks, while allowing small banks to fail across America. Some credit should be given to the president, however, for his short-term policies to save the banks, and the wise business decision to make interest from the banks that were save through the...
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