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NGrossman81's profile
Nicholas Grossman
Nicholas Grossman
Nicholas Grossman
@NGrossman81

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Nicholas Grossman

@NGrossman81

International Relations prof at U. Illinois. Senior Editor @ArcDigi. Author “Drones and Terrorism.” Politics, national security, and occasional nerdery.

amazon.com/Drones-Terrori…
Joined April 2015

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    1. Nicholas Grossman‏ @NGrossman81 Aug 29

      Nicholas Grossman Retweeted Joyce Alene

      The attempted historical revision is worse than that. Tackling the financial crisis was a bipartisan effort. TARP passed 10/3/08, under Bush. Subsequently administered by Obama. Saved the financial system. As bad as Great Recession was, would've been a lot nastier without TARP.https://twitter.com/JoyceWhiteVance/status/1033925731930255360 …

      Nicholas Grossman added,

      Joyce AleneVerified account @JoyceWhiteVance
      Everyone who lived through it remembers the horrible feeling of the markets dropping & the corrective action President Obama took when he came into office, which stabilized us. It's incredible that the GOP has been able to rewrite history. The truth is not the truth. https://twitter.com/JohnJHarwood/status/1033902001975902208 …
      1 reply 6 retweets 10 likes
      Show this thread
    2. Nicholas Grossman‏ @NGrossman81 Aug 29

      People forget how bad the 2008 financial crisis was. Crashed harder, faster than start of Great Depression. The credit system seized up. Think it was just about bankers? Mom and Pop stores that accepted credit card wouldn't be reimbursed for those sales. TARP saved the world.

      1 reply 4 retweets 8 likes
      Show this thread
    3. Nicholas Grossman‏ @NGrossman81 Aug 29

      TARP not perfect or beyond criticism. With hindsight, we can see how it could've been better. But it achieved its main goal of short-circuiting the crash and unseizing credit markets. And the public ended up turning a profit! Looking back, it's the last big bipartisan achievement

      2 replies 1 retweet 6 likes
      Show this thread
    4. A_Perfect_Fifth‏ @ItDigg Aug 29
      Replying to @NGrossman81

      Disagree. Tarp+QE is a major contributor to ‘the toxic tens’. Bad actors ‘still in the field, commanding troops’.

      1 reply 0 retweets 0 likes
      Nicholas Grossman‏ @NGrossman81 Aug 29
      Replying to @ItDigg

      In late 2008, what would you have done?

      9:42 AM - 29 Aug 2018 from Urbana, IL
      1 reply 0 retweets 0 likes
        1. New conversation
        2. A_Perfect_Fifth‏ @ItDigg Aug 29
          Replying to @NGrossman81

          Wud have nixed every last cent of equity and bonds, inc senior; pressed some buttons, had new unencumbered owners the next day. Sound nuclear? It’s not in a fiat system.

          1 reply 0 retweets 0 likes
        3. Nicholas Grossman‏ @NGrossman81 Aug 29
          Replying to @ItDigg

          Yes that sounds nuclear to me. Meaning: collapse, chaos, immense suffering, with no guarantee that after all the suffering something better would emerge. I understand you disagree. But I'd caution you: Would you really have trusted the government to handle something like that?

          1 reply 0 retweets 0 likes
        4. A_Perfect_Fifth‏ @ItDigg Aug 29
          Replying to @NGrossman81

          Well it’s unknowable what wud’ve happened but you screw with natural justice at your peril.The decisions taken by these guys are the patient zero of society’s drawn-out toxic descent.

          0 replies 0 retweets 0 likes
        5. End of conversation

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