How come the $700 billion bailout to banks and business did not create any jobs?
Also, is there any accountability for where this money has gone?
Asked By: Tucking Fypos - 10/5/2009
Best Answer - Chosen by Asker
It wasn't intended to...Bush handed out TARP to help the banks and AIG to stay viable and it was his and Hank Paulsen's hope that by throwing money at their friends, they would be responsible with it and unthaw the frozen credit markets that was damaging the economy. They (Bank CEO's, etc.), however, decided that... More
Answered By: Zap - 10/5/2009
Additional Answers (17)
It created thousands of jobs and saved millions of jobs. Most of the money has already been paid back with interest.
Answered By: Proud Texan - 10/5/2009
Because obama is f*****g stupid.
Answered By: Mumble - 10/5/2009
Who passed the bank bailout?
Answered By: racists(dot)us - 10/5/2009
Because in simple terms Most Bankers are thieves
Answered By: bluechristy - 10/5/2009
Dumya ate it.
Answered By: Pigeon-carcass hairpiece - 10/5/2009
It has saved the economy. Where is your reference?
Answered By: Super BB - 10/5/2009
I guess it kept them afloat the gov should have just stayed out! Its not the governments business to prop up private business Nothing is too big to fail.
Answered By: Thank you Blue Dogs - 10/5/2009
It was not meant to create jobs. It was meant to avoid a complete economic meltdown that started during the Bush years.
Answered By: beren - 10/5/2009
The money was used to prop up the failing banks, not to create jobs out of thin air. There is absolutely NO accountability as evidenced by CEOs' and other board members' salaries, bonuses, and record profits.
Answered By: No. - 10/5/2009
yea that's why the unemployment rate is at its lowest point right now. where did you get your Information proud Texan?
Answered By: KellsWS6 - 10/5/2009
because the people handling the money has no idea what to do with it. I heard on the news that a place in georgia got a whole lot of money and it created like 3 jobs. There is not enough intelligent people handling it. Everyone go to college!
Answered By: blasphemy333 - 10/5/2009
from what I can gather, it was supposed to save the company; NOT boost its revenue. However there was an issue there with one company (I believe AIG) that got the bailout, AND paid bonuses. big no-no. Got in a lot trouble.
Answered By: ? - 10/5/2009
don't you remember last fall, when the banks were asked what they did with the bailout money? not one of them would account for how they spent the free cash, our tax money. I hate banks now.
Answered By: good guy - 10/5/2009
The bank bailout was never meant to "create any jobs"...it was allegedly to keep the whole system from collapsing... More
Answered By: Water Over Gold - 10/5/2009
BUSH SPENT IT ALL IN IRAQ 10 bil a month then left CORP HOES OUTSOURCE ALL THE JOBS NO TAX BASE NO MONEY NO JOBS NO BANKS
Answered By: Lying GOP CLOWNS - 10/5/2009
It is so easy to Blame one person for the economic meltdown, but if anyone is truly interested in finding out the truth, it goes back many years and many administrations....both parties are responsible. I don't think either party intended the mess, so stop the blame game. It happened...Obama is the President...Fix it... More
Answered By: CallistasCharge - 10/5/2009
The bailout was not intended to create jobs, but to prevent massive damage to the US financial system, including the savings and checking accounts of most Americans. Failure to pass the bailout may have resulted in bank runs across the country (Google what happened at Northern Rock bank in the UK), and perhaps... More
Answered By: Ghost of 1776 - 10/5/2009
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