“Maga Leftist” blames Obama for the 2008 bank rescue that was signed by George W. Bush
Self -scrutiny “Sleep from the left” Batya Ungar-Sargon said with confidence on Thursday evening that the “first act in office” of President Barack Obama was passing the patrimonial rescue program troubled by $ 700 billion who saved the financial institutions during the culmination of the 2008 financial crisis.
Ungar-Sargon would do it double on this statement The following morning, tweeting that “in 2008, President Obama saved Wall Street and screwed for Main Street” Donald Trump’s ratesinsisting on the fact that “in 2024” the current president “freed on Wall Street to save Main Street”.
There is only one small problem with Free printing Analysis of the editorialist: Tarp was signed in law From the then president George W. Bush on October 3, 2008-A whole month before Obama was elected president and four months before entering the White House.
During an apparition NewsNight of the CNN with Abby PhilipUngar-Sargon-Che made the round of the media to defend the chaotic rates of Trump passionately that triggered a collapse of the global market-attempted to counter the factors that led to the great recession to the current economic environment.
“I thought a lot about the 10 million Americans who lost the house in the 2008 financial crisis and how the first act of President Obama in office was to give 700 billion dollars to the banks that caused him, including $ 30 billion in bonus to the scammers who organized him,” he exclaimed.
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“And I’m thinking about how those Americans saw a Pick Wall Street president on Main Street,” added Ungar-Sargon. “And what they saw all this week was a president willing to go out there and fight for the forgotten men and women of this heart and face the entire global international order for them.”
A a Marxist academic time who has since turned into a Steve Bannon-style sorceress populist, Ungar-Sargon I will pardon the drum In the last days when Trump is “Wating War” for “people forgotten in the heart of America” with his commercial war, reaching the point of arguing that he could correct the “Crisis in masculinity.”
However, regardless of the merits of his arguments on behalf of the Trump rates, one thing is unquestionable: Tarp was not the “first act” of Obama after having sworn as president in 2009.
In reality, the massive rescue was born during the autumn of 2008, when the global economy was in free fall due to institutions and financial banks, many of which were considered “Too big to fail” – Otherwise due to the crisis of subprime mortgages. With the outbreak of the housing bubble and the predefined settings are to the stars, the securities guaranteed by mortgage that the lenders and investment companies acquired in high volumes have become useless, with consequent loss of all their money and client deposits.
Tarp was finally implemented to buy these “toxic” activities and keep banks afloat between the concerns of a full -blown economic collapse. The account was initially accepted with bipartisan resistance e also failed with his initial vote In the Chamber, but in the end the congress passed it after some changes, and was quickly signed by Bush by law.
After Obama has come into office, other changes to the program were made, including prohibit Companies who receive Tarp funds give bonuses to their 25 most paid employees. The Treasury Department shown In 2023 that the total amount paid by Tarp was $ 443.5 billion, with the government that collected $ 425.5 billion through refunds, sales and dividends. “After taking into consideration the interest of $ 13.1 billion, the net cost of the TARP programs was $ 31.1 billion,” says the report.
By sharing a clip of his CNN comments, Ungar-Sargon reiterated that Obama was responsible for the Tarp, simultaneously claiming that Trump was president last year.
“In 2008, President Obama saved Wall Street and screwed for Main Street”, she published On X (previously Twitter). “In 2024, President Trump screwed Wall Street to save Main Street. This is what many Americans will remember last week.” It didn’t take much for a number of Political commentators AND journalists To take Ungar-Sargon for the task his revisionist history.
“Bush was president in 2008. Trump rates are crashing the economy in 2025. I would recommend to @cnn and @abbydphillip stopping to invite experts who do not seem to have a management of the most elementary facts on politics or economics”, the guest of Pod Save America Tommy Vietor react.
“How many mistakes can you make in a tweet?” Charles W. Cooke, a senior writer for the conservative outlet National review, he wondered While inside the elections, deputy director Jacob Rubashkin was even more succinct with his observation of the Ungar-Sargon observations.
“” Who was president in 2008? “And” Who was president in 2020? “are two questions to which you should be asked to answer before operating on politics on TV”, he noted.
“One thing is to go on TV and say that Obama was president in 2008. TV is frenetic and the PPL makes mistakes”, ” The Atlantic Derek Thompson added. “But it is another thing to access in the morning and go: to be clear, Obama, who became Potus in 2009, hates the common man so much that he traveled back for the time to sign the sheet.”
