Obama became president in 2009

Lehman Brothers goes bankrupt in <B>2008</B>, mid september

TARP is rejected by the house in 2008, Sept 30. It is later sent again by the Senate a few days later where it passes in the Senate, then the House, and <B>signed by President Bush on 2008, October 3rd</B>. This is over a month prior to the 2008 election where Obama and McCain competed for the US presidency, and over 3 months prior to Obama winning and then taking office in 2009 during a late January swearing in.

TARP grants the US Treasury run by Hank Paulson who made 600 million dollars at Wall Street where he used to be CEO of Goldman Sachs,. Paulson whose religion is Christian Scientist had a very unique take on Wall Street which overall the entire Wall Street is self correcting and there can be no market failure collectively only individually, which is a modified form of God will provide and cure diseases as long as we pray thus no many forms of medicine for medicine is showing we have no faith in God. Many people accuse Paulson of not getting what was happening until too late and Wall Street was panicking and killing itself for it no longer knew which banks had safe investment ratios and which were zombie banks where they took on too much risk and thus were dead corpses walking.

TARP granted Paulson the right to spend up to 700 billion to stabilize the economy. Paulson original plan was to buy up all the bad assets leaving the good assets with wall Street and America holding on to them where tax payers may make money if they hold on to them long enough or they lose money.

During this Original Plan Paulson does a short term stock buy (taking equity) of $250 billion dollars of the nine largest US banks some healthy some not where the amount was more than needed and more banks were given money than needed to hide what Paulson thought was the weakest banks. This was 2008, Oct 14 still several weeks prior to the election.

These banks would be forced to pay interest to the US and could not pay back this stock buy until the Treasure Security says so.

Nov 12 2008 8 days after the US election but still over 2 months prior to Obama taking office Paulson abandons the toxic assets buyback plan for it would take years to do instead doing more capital infusions of taking equity in the form of stock like he did in mid October a few weeks earlier.

Overall by 2012 TARP invested $426 billion dollars in the banks and us auto industry, it was repaid in full by 2012 where the US taxpayer made a profit of $15 billion on tarp since we were paid $441 billion. Yet do to this uncertain time starting in 2008 the US entered into a great recession the biggest since the great depression.

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The people you wrongly attributed TARP to and the fact you got all the numbers wrong shows that you need to have your speaking privileged revoked in regards to this subject. You are just flat out WRONG.