Which does not explain why he did not issue his own letter as President saying he did not personally support TARP; it just explains his reasoning regarding the letter.
I’m not sure I believe that he actually thought that much about the letter at the time.
I remember that Rick Perry fell into a similar problem with TARP because of a letter he wrote. I remember a lot of people here at this site who took quite the opposite position about his explanations of what his letter actually meant.
One thing I’m sure of — the democrats will be quite pleased if we make this election about the opposition to TARP, given that TARP was one of the only things we did in 2008 that actually worked at all. Much better than fighting Obamacare, I’m sure they will agree.
TARP was a disaster.