I completely agree. The TARP did help stabilize the banking system. It is utter Bullcrap that Obama pats himself on the back for stabilizing the economy, because the porkulus bill has done virtually nothing. Porkulus did not create the jobs it was suppose to. $787 Billion dollars could have easily been used to create 10 million jobs if it was used with market forces instead of just a bunch of random unnecessary infrastructure projects.
BTTT! Thanks
Yes, it did.
When the run on the money market system started we were in incredible trouble. But then the banks discovered that Paulson-Bernanke were going to take swift action and that bank run was stopped.
We WERE going down. That was a VERY scary week. If the banks go, everything goes.
And much of the original TARP funds have already been repaid. Problem is, Zero took advantage and piled on with his Keynesian stuff.