I am responding to Virgil Stevens’ letter “Flawed Democratic plans” in the Oct. 2 issue of the Daily Journal. Mr. Stevens states that former President Barack Obama bears responsibility for bailing out the banks during the economic crisis of 2008 “down to the last penny.”
The Emergency Economic Stabilization Act of 2008 was proposed by Treasury Secretary Henry Paulson, passed by the U.S. Congress, and signed by President George W. Bush. The act became law on Oct. 3, 2008. That’s one month before Barack Obama won the presidential election of 2008 and three months before he was sworn in as the 44th president of the United States. Next time you want to criticize former President Obama, Virgil, at least do your research and get your facts straight.