Who Started the Bailouts?


According to a new Pew poll, the majority of Americans are mistaken about who they believe started the bailouts.

47 percent of the respondents thought that President Obama initiated the Troubled Asset Relief Program, compared to 34 percent who correctly said that it was actually President George W. Bush.

The beginning of the bailouts started in September 2008 after Lehman Bros. failed. If one thinks back they may recall that John McCain famously put his ?campaign on hold? to go back to Washington D.C. to handle the crisis.

The first bailout money from TARP was approved prior to the election in November 2008, making Bush not Obama the President who started the bailouts.