TARP is quite possibly the most successful government program of its generation. All the money was paid back, with interest, and experts believe that the intervention almost certainly staved off a Depression-like catastrophe. But the entire episode was scarring for millions of Americans who became convinced that Washington and Wall Street were playing by a different set of rules; that the economy was rigged against them; that professional politicians had sold them out.
“McCain came back to bail out the banks. He had a chance. I was hoping he wouldn’t vote for it,” says Jordan. “That was when the populist sentiment started to take root around the country. I think that was probably laying the groundwork for what happened in 2016.”
No comments:
Post a Comment