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How Obama Saved Capitalism and Lost the Midterms

How Obama Saved Capitalism and Lost the Midterms
In an opinion column for the New York Times, Timothy Egan wrote, No matter your view of President Obama, he effectively saved capitalism. And for that, he paid a terrible political price. Read the analysis.

In an opinion column for the New York Times, Timothy Egan wrote: "If I were one of the big corporate donors who bankrolled the Republican tide that carried into office more than 50 new Republicans in the House, I would be wary of what you just bought."

"For no matter your view of President Obama, he effectively saved capitalism. And for that, he paid a terrible political price."

"The presidency of George W. Bush produced the worst stock market decline of any president in history. The net worth of American households collapsed. And if you needed a loan to buy a house or stay in business, private sector borrowing was dead when he handed over power"…

(READ the Op/Ed piece in the New York Times)

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