Which bailouts were passed by the Bush administration and which by the Obama administration?
President Obama
Please hаνе ѕοmе factual support tο уουr аnѕwеr аnԁ ѕοmе sources, nοt 'Bush kіƖƖеԁ America'/'Obama іѕ kіƖƖіnɡ America'.
Tags: Bush, factual support
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Obama voted for Bush’s TARP and then did one of his own (Stimulus Bill).
Obama could have voted ‘no’, so it’s his fault as much as anyone, eh?
Bush signed the TARP Act
Bush signed TARP, but the second half of it was reserved for Obama. Blaming one or the other for it doesn’t work, one signed it, the other voted for it, both spent half of it, both agreed it was necessary.
TARP was passed under Bush with a handful of Republicans agreeing to it and all Democrats (including Obama) demanding it.
The rest are ALL Obama/Democrat.
Presidential administrations can’t PASS anything; they can propose legislation, and either sign or veto what Congress passed.
OK, now to your question. The Bush administration proposed a bailout bill for Wall Street companies that were in deep doo-doo. Their proposal prohibited ANY oversight or review of how the money was to be used.
Congress, which had Dem majorities, rewrote that plan to include oversight and review. That’s the bailout that passed, and which Bush signed into law. It set aside many hundreds of billions of dollars for bailouts, and included provisions for the money to be paid back with interest.
Some of that money was given to banks and investment firms.
Obama took office, and told auto-makers who were in deep doo-doo that he’d give them some of what was left (that had been set aside but not given out), IF each company submitted a plan to make them profitable.
Two companies did so, and got bailout money, which they’ve in the process of paying back.
Obama told the Wall Street firms that had taken bailout money that they couldn’t just give huge piles of money and stock to their top execs as they pleased (which was something everyone was really p-oed about — they took government money, then were going to reward the imbeciles that CAUSED the crisis) as long as they hadn’t yet paid the government back in full.
This led to some of those firms racing to pay the government back.
Your question asks of bailouts — plural — but there was really only the one pile of money originally set aside, that has since been used for other purposes.
More recently, Obama used some of the money that had been paid back for an additional stimulus/jobs initiative.
BTW, that original pile of money still hasn’t been entirely spent. But all the things I’ve mentioned were from that pile.
If you’re thinking of the big stimulus bill early last year, that was another thing. Searching on "Recovery Act" would get you details of that.
"TARP" is what the bailout was called, you can search for that term to find reliable news sources on it.