What if I told you there is a public health emergency? Would that be news to you?https://twitter.com/brhodes/status/1242589060134129666 …
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But that wasn’t going to be remotely enough—that kept the banks from collapsing, but we were already at the zero lower bound with, to repeat myself, the 800k unemployment every month and 8.9% gdp decline 4th quarter, 08. Demand crisis.
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Tarp, it must also be understood, made no demands on the banks, in terms of changing practices or protecting underwater mortgage borrowers, in return for their state subsidy. So TARP, on its own terms, was poorly designed.
End of conversation
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Selective memory. This stimulus literally put a floor on the market at around 650. Otherwise it would have gone to 300 or lower
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So tea party was pro-TARP???
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