During the recession, Obama continued Bush’s policies of bailouts for financial institutions. This goes to the economic principle that stabilizing markets was important for economic recovery. On page 593, Levy says, “Meanwhile, through the TARP, the Treasury Department injected public capital into the largest US banks.” This helped to slow the crisis and promote public levity. This represents the desire to maintain the economic status quo. Similarly, the Obama administration attempted to do this as well with the troubled Asset Relief program and the stress test on major banks in order to maintain economic stability. This being said, Obama still campaigned against policies put forth by Bush, but larger economic stabilization came to maintaining status quo.
The U.S. Treasury and the Federal Reserve have economic authority because that is apart of their expertise. Economic crises require decisions that are based on expert opinions. In Congress, it can take a long time for legislation to pass. Therefore, the two unelected bodies provide the ability for the United States to respond to economic situations. Furthermore, Congress has delegated authority to these instiuttions in order to act independently of political pressures that congress may be subjected to.
Will Wright 
I enjoyed your post, it sheds the light to how obama’s administration tried to stabilize things by continuing some of Bush’s policies. I liked how you explained the role of the Treasury and the Fed in a crisis, and how they are mostly experts that need to make those decisions without waiting on Congress.
It did make me wonder though do you think relying so much on these unelected institutions risks making people feel unincluded and away from the decision making when it is all about them?
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