History 1807 Lecture Notes - Lecture 2: Henry Paulson, Hurricane Katrina, Bear Stearns
24 Apr 2019
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Document Summary
Humans are stupid and want easy things to blaim. Society was at fault in 2008 and the system. Most people think he is smart and good. Al gore"s election sat fucked up clintons impeachment. 9/11 throws bush a fucking wrench but he rises to the occasion. Invasion of iraq was a piss poor war. March 2008 henry paulson notices problem, economy is built on house of card, one card foes, we fucked. Bear sterns is on the verge of collapse. If bear goes under, stock people get fucked. Merill lynch sells itself to bank of america, by paulson direction leeman brothers collapses, largest bankruptcy ever. Paulson doesn"t help leeman bros. wall street about to die. Emergency economic stability act = bailout asks for billion. Feds will enter wallstreet and take troubled assets and bad investments promise banks. House refuses to bailout big banks close vote. House votes again to pass slightly changed bill.
