History 1807 Lecture Notes - Lecture 3: Nerd, Henry Paulson, Fire Sale
21 Apr 2016
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Recap: issue with the way capitalism is understood excess of faith placed in rationality of market. Jeb bush was expected to become president one day. George became governor of texas but was more ceremonial than powerful. Battle between nerd al gore and good boy bush. Didn"t have firm grasp on policy and economics. America was happy place in 2001 was easy to elect him. 9/11 caught everyone by surprise and everything changed. By 2002/2003 united states invades iraq (for no reason) 2003 onwards people soured on bush b/c of deaths in wars. 2004 was re-elected unable to deal with hurricane katrina aftermath. 2005/2006 america was fed up with him. Nobody was paying attention to economy but was paying attention to failure of bush and his political agenda. Throughout this period, america was used to unending growth of stock market. Success of stock market was evidence that market was successful.
