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Tuesday, December 03, 2013

'Five Years Later'

David Warsh on the "nature of what happened in September five years ago":

...George W. Bush was one of the heroes of the crisis. Despite the cavalier behavior of the first six years of his presidency, his last two years in office were pretty good – especially the appointment of Bernanke and Treasury Secretary Henry Paulson. Bush clearly shares credit with Obama for a splendid instance of cooperation in the autumn of 2008. (Bush, Obama and John McCain met in the White House on September 25, at the insistence of Sen. McCain, in the interval before the House of Representatives relented and agreed to pass the TARP bill. Obama dominated the conversation, Bush was impressed, and, by most accounts, McCain made a fool of himself.) ...

Much more here.

    Posted by on Tuesday, December 3, 2013 at 09:40 AM in Economics, Financial System | Permalink  Comments (81)



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