Has it Only Been Five Years?

On 30 August, 2008, the only convicted criminal every appointed to the White House took to the air and told the American people, "There have been some recent signs that our economy is beginning to improve." A lie, of course.

7 September 2008 - After years of The Criminals administration "deregulating" financial institutions and with mortgages failing in record numbers, the FHA assumes control of Fannie and Freddie Mac leading to taxpayers having to come up with nearly $190 billion dollars in aid.

9 September - Lehman Bros stock collapses by 45% in one day.

15 September - Lehman's hopes of a sale to a Korean bank falls apart, the Fed rejects a bailout and Lehman files for the largest bankruptcy in history ($600 billion). Merrill Lynch is sold to Bank of America and the Dow drops by 504 points.

16 September - The Federal Reserve and the Treasury Department, under direction of The Criminal's administration, take an 80% stake in AIG, the insurance giant.

19 September - The Criminal demands Congress go along with his TARP (Trouble Asset Relief Program) in an effort to avert an "economic cataclysm."

21 September - Investment banks Goldman Sachs and Morgan Stanley are allowed to become bank holding companies.

22 September - Lehman assets are divided between Barclay's Bank of England and a Japanese firm.

24 September - The Criminal tells the American people, "We're in the midst of a serious financial crisis," less than 30 days after his "we're doing fine" speech.

25 September - Presidential candidates John McCain and Barack Obama are called into a meeting with The Criminal and key members of Congress. The Republicans refuse to support any concept of financial intervention to protect the nation. Washington Mutual - the largest S&L in the nation goes into receivership.

28 September - The FDIC orders the sale of Wachovia, the fourth largest financial institution in the nation.

29 September - The House of Representatives, led by Republicans, rejects TARP and the Dow falls 777 points (the largest one day loss in history) wiping out $1.2 trillion in wealth.

1 October - The House finally sees the light and passes TARP by 263-171. The Senate passes it by 74-25.

The bleeding continued with the Dow - that began September at 11,500 - falling to 6,500 in March of 2009. Job losses totaled 459,000 in September, the smallest number that would be seen over the next seven months with as many as 750,000 people losing their jobs each month just before The Criminal leaves office.

The Criminal left office in late January of 2009 leaving behind the worst economic disaster since The Great Depression. Almost immediately the slow, painful turn-around began. Job losses under The Criminal totaled 8.7 million jobs by February of 2009 when the numbers began reversing and a steady decrease in the number of unemployed has continued since. The Dow began a steady up-tick and has risen to historic highs (over 15,000) under President Obama, erasing the horror of The Criminals 6,500 number.

And despite the steady increase in employment - albeit slow thanks to the obstructionist Republicans in Congress - the intellectually bereft continue to praise The Criminal while forgetting the economic morass he led our nation into and the thousands who have died because of his involving our nation in a war based on lies.