In case it’s not crystal clear, this isn’t the “Great Recession”.
It’s really the Great Bank Robbery.
First, there was the threat of martial law if the $700 Billion Tarp bailout wasn’t passed. Specifically, Treasury Secretary Hank Paulson warned Congress that there would be martial law unless the Tarp bailouts were approved.
As I pointed out last October:
The New York Times wrote on July 16th:
In retrospect, Congress felt bullied by Mr. Paulson last year. Many of them fervently believed they should not prop up the banks that had led us to this crisis — yet they were pushed by Mr. Paulson and Mr. Bernanke into passing the $700 billion TARP, which was then used to bail out those very banks.