By the time Obama came into office, Washington had already agreed over a period of a few weeks to a $700 billion government infusion into the world banking system. Nothing of the sort had ever been done before, and it was done spit spot with very little national debate.

Summary

This quote illustrates how, prior to Barack Obama assuming office as President, there was an agreement among Washington policymakers regarding a substantial $700 billion injection into the global banking system. This extraordinary decision was made quickly, within a few weeks, and without much national discussion or debate. The quote suggests that such a significant action, unprecedented in its scale, was implemented swiftly and without ample public scrutiny.

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