Editorials

February 22, 2014

Some Democrats keeping Obama at arm’s length

Throughout September of 2008, every week produced another ugly milestone in the unfolding financial crisis. Just after Labor Day, Fannie Mae and Freddie Mac, the government-sponsored mortgage machines, were taken over by their regulator. Ten days later, Lehman Brothers filed for bankruptcy. Two days after that, the Federal Reserve released an an unprecedented $85 billion rescue plan for insurance giant AIG; and on Sept. 29, when the original Troubled Asset Relief Program bill failed in the House of Representatives, the Dow Jones index plunged nearly 800 points.

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