Speculation: Why did Bush back TARP?

Shocker: Electronic Money Market Run Nearly Destroyed US Economy
Rush Limbaugh, February 10, 2008
U.S. REPRESENTATIVE PAUL KANJORSKI (D-PA): On Thursday [September 18, 2008] at about 11 o'clock in the morning the Federal Reserve noticed a tremendous drawdown of money market accounts in the United States, to the tune of $550 billion was being drawn out in a matter of an hour or two. The Treasury opened up its window to help. It pumped $105 billion in the system and quickly realized that they could not stem the tide; we were having an electronic run on the banks. They decided to close the operation, close down the money accounts and announce a guarantee of $250,000 per account so there wouldn't be further panic out there. Read more at Rush Limbaugh (Hat tip: Hot Air)...



Relationship?

Caption: Obama at fund-raiser at Steven and Judy Gluckstern's home, April 9, 2007. George Soros is seated to the right of the stairs. (Photo [stitched]: Michael Edwards)
See NY Magazine article.

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