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We were lucky in 2008 that there was the political will and capacity for Congress (and the incoming Obama administration) to do what they did. I think whatever
by fossuser 6y ago
We were lucky in 2008 that there was the political will and capacity for Congress (and the incoming Obama administration) to do what they did. I think whatever people thought of the decisions at the time, the market recovery after 2008 (and all of the banks paying back those loans) is evidence that those decisions were right.
I'd be worried that the political will may not exist this time, or that the administration wouldn't be able to understand the problem well enough to even figure out what should be done.
- vkou 6y agoThe Fed has reacted in pretty much the same manner in 2020 as it did in 2008.