Nobody else bothered. The promise of TARP was to save the USA economy as well as the global economy from collapse.
That didn't happen. The TARP funds were used to bolster the viability of the investment banks which removed their 'investment bank status' in order to receive TARP.
Instead, the USA was left to figure it out for ourselves. With no idea to the extent the economy would deteriorate given the level of government neglect due to DOWNSIZING of the Federal Infrastructure which bred all kinds of corruption. So, the initial action by the Federal Government following the Democrats taking the Congress and the Executive Branch in the 2008 Election was to create a Stimulus Fund, the American Recovery and Reinvestment Act.of 2009. The signs are still being seen in regard to the excellent use of those funds.
The American Infrastructure was badly deteriorated, as noted by a major bridge collapse during the Bush Administration which caused innocent citizens to die. The ARRA of 2009 has and is correcting many of those issues. It put some of the construction industry, THEN floundering, back to work quickly since the housing sector was completely unavailable for any funding or loans in the private sector. At that time private banks were still tanking.
The American People have much to be grateful for with the Obama Administration. They were the right people for the job and if it were up to the Republicans we would still be looking at failing infrastructure and streets full of unemployed and homeless. The work this administration has done on all fronts of his cabinet is completely remarkable.
I thank the Obama Administration for taking care of a country that is always there for the private sector, but, in the years since January 20, 2009 has been 'there' for the citizens. President Obama is a remarkable President with a full agenda of achievements to date.
