Ryan, who were both eventually targeted by Tea Party rebels within their own party. “Today’s populism is firmly rooted in 2008,” said Brendan Buck, a top adviser to two Republican House speakers, John A. Trump and Bernie Sanders, ultimately helping Mr. In some ways, that popular revolt empowered populists like Donald J. Obama once called them, should be rescued by the government even as everyday Americans lost their jobs, their homes and their life savings so rankled the public that it gave birth to the Tea Party and Occupy Wall Street movements and undermined the establishment across the political spectrum. The notion that “fat-cat bankers,” as Mr. Obama arguably saved the global economy but also provoked such a ferocious popular backlash that they transformed American politics to this day. The colossal bailouts initiated under President George W. Washington remains haunted by the specter of government intervention after the banking sector collapse that triggered the Great Recession, leaving leaders of both parties determined to avoid any repeat of that painful period. He could not even bring himself to utter the word “bailout.” “Let me repeat that: No losses will be borne by the taxpayers.” “This is an important point: No losses will be borne by the taxpayers,” he vowed.
Biden, now himself a president facing a banking crisis, appeared before television cameras on Monday to make clear that he remembered that moment even as he guaranteed depositors at failing institutions. Period.” Standing over his right shoulder just inches away and clapping was his vice president, Joseph R. WASHINGTON - On that summer day in 2010 when he signed new legislation regulating the banks after the worst financial crash in generations, President Barack Obama declared, “There will be no more tax-funded bailouts.
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