A major grassroots movement starting with the dawn of the recession that combines the libertarian anti-government aspects of the Tea Party with the anti-Wall Street aspects of the Occupy movement, and attach it to enough Congressional candidates that incumbents are scared shitless that they will be voted out if they vote in favor of it.
We're doomed. Doomed I tells ya! Dooooooomed!!!!!
As the title says, have TARP fail to pass in the House and Senate in 2008.
As the title says, have TARP fail to pass in the House and Senate in 2008.
That made me thinking. If the recession happened in 2007 or late 2006 instead of 2008, could this have happened?
Technically the recession did actually start at the end of 2007.
Was TARP actually widely supported, or widely supported by those who have stocks? Most Americans don't. If instead of TARP, a program is started to give that amount of money directly to members of the public as an economic stimulant, it would have gained immediate support from many more Americans than TARP did.Very difficult. TARP was widely supported, because people were panicking. In addition, Bernanke, Bush, and most in congress wanted to pass it.
Was TARP actually widely supported, or widely supported by those who have stocks? Most Americans don't. If instead of TARP, a program is started to give that amount of money directly to members of the public as an economic stimulant, it would have gained immediate support from many more Americans than TARP did.
Was TARP actually widely supported, or widely supported by those who have stocks? Most Americans don't. If instead of TARP, a program is started to give that amount of money directly to members of the public as an economic stimulant, it would have gained immediate support from many more Americans than TARP did.
TARP would be much more likely to pass than a stimulus package, since it had the support of the Fed. A stimulus package, in conjunction with TARP could pass, although that did happen in OTL.
Was TARP actually widely supported, or widely supported by those who have stocks? Most Americans don't. If instead of TARP, a program is started to give that amount of money directly to members of the public as an economic stimulant, it would have gained immediate support from many more Americans than TARP did.
That article wouldn't be correct. The total dispursed by TARP over six years was $426 billion. Spreading that among all 300-odd million citizens would give each about $1,400. Not insignificant, but nothing near "pay off a house plus extra". Even using the originally authorized total of $700 billion would only raise it to about $2,300.My terminology may have been incorrect. I recall seeing an article stating that for the amount of money given to the banks, the govt. could have issued a check to each mortgage holder in the US and paid off our houses, with money left over.
My terminology may have been incorrect. I recall seeing an article stating that for the amount of money given to the banks, the govt. could have issued a check to each mortgage holder in the US and paid off our houses, with money left over.