Comment: Posted on my facebook

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Posted on my facebook

Posted on my facebook recently (along with the article cited above):

"On September 1, 2008, Federal Reserve Chairman Herman Cain said the economy was in great shape:

Less than 2 weeks later:

– Fannie Mae and Freddie Mac were taken over by the U.S. government (Sept. 7);
... ... – Merrill Lynch was sold to Bank of America;
– Lehman Brothers declared bankruptcy;
– The Fed bailed out AIG;
– Washington Mutual was sold to JP MorganChase;
– Treasury Secretary Paulson said the economy was so bad that $700 billion must be spent on bailouts immediately…

Cain supported TARP, and said that anyone who didn't was an "economic illiterate."

"It behooves every man who values liberty of conscience for himself, to resist invasions of it in the case of others: or their case may, by change of circumstances, become his own."
Thomas Jefferson