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Why exactly did we do this?

"Foreign firms helped by U.S. bailouts: panel

In its latest critique of the Treasury Department's handling of the Troubled Asset Relief Program (TARP) -- set up in 2008 as a $700 billion rescue fund -- the Congressional Oversight Panel said other countries got help from U.S. rescue efforts that exceeded any benefit their programs provided to the United States."

''"If the U.S. government had gathered more information about which countries' institutions would most benefit from some of its actions, it might have been able to ask those countries to share the pain of rescue," the report said."

http://www.reuters.com/article/idUSTRE67B0DD20100812?type=politicsNews

Answer Question
 
NotPanicking

Asked by NotPanicking at 3:23 AM on Aug. 12, 2010 in Politics & Current Events

Level 51 (421,172 Credits)
Answers (8)
  • NotPanicking

    Comment by NotPanicking (original poster) at 3:23 AM on Aug. 12, 2010

  • I think all this spending is because all the political favors were called in and that was why it was passed in such a hurry. We need to run the US budget like we run a business, no business would be in business very long with that much debt load.

    Joeygoat

    Answer by Joeygoat at 3:27 AM on Aug. 12, 2010

  • I say we stop giving out our money to all countries, except for the ones we owe it to. We are in a $$$ crisis. We are always there to have someone's back, but who is fighing in our corner now??
    JuLiAnSmOmMy317

    Answer by JuLiAnSmOmMy317 at 6:15 AM on Aug. 12, 2010

  • because it was a knee-jerk reaction. No one actually thought this through.
    lovinangels

    Answer by lovinangels at 7:07 AM on Aug. 12, 2010

  • Hindsight is 20/20. I don't recall hearing anyone raise that issue at the time.
    UpSheRises

    Answer by UpSheRises at 8:49 AM on Aug. 12, 2010

  • I agree though, it was a knee jerk reaction. No one had time to raise issues and those who did were drowned out by all the hand- ringing.
    UpSheRises

    Answer by UpSheRises at 8:50 AM on Aug. 12, 2010

  • Because we elect to many idiots into office.
    hot-mama86

    Answer by hot-mama86 at 9:59 AM on Aug. 12, 2010

  • I have to agree with hot mama on that.
    Carpy

    Answer by Carpy at 10:37 AM on Aug. 12, 2010

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