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| TARP wasn't even a speed bump as the market crashed past 1099 |
Here:
The House got another crack at the TARP vote on October 3rd and this time it passed 236-171. 63 Dems and 91 Republicans had still voted no, but common sense triumphed. Bush signed it a few hours later and the markets eventually stabilized (although the bear market was far from over.)
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Excuse me, but the market went from 1099 on October 3, 2008 to 899 on October 10th, an 18% decline AFTER TARP was signed.
Then it went to 800 by Thanksgiving, on its way to below 700 by March 2009.
TARP didn't do a damn thing to stabilize the market.
