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Originally Posted by RIJIMMY
I struggle with the rationalization of this one,,,,I mean it was supported by both house and senate and by both candidates.
Why does it get labeled the "Bush" bailout?
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because Wolfson, Bush's treasury secretary, is the architect all of this and he is "doling out the bread" to banks that got so big that when they fail, they bring securities industry with them.
The fed, with Bernanke at the helm, who is sort of stuck between a rock and a hard place but is probably the smartest bureaucrat in washington, does not need congress to act and he is has been pumping billions of capital into AIG, Bear Stearns and others. Hopefully that clears things up for you.