[Bloody Monday: 74,000 layoffs announced in one day](http://www.wsws.org/articles/2009/jan2009/econ-j27.shtml)
>In October, politicians of both parties, including Barack Obama, insisted that it was urgently necessary to give the major financial institutions hundreds of billions of dollars in the so-called Troubled Asset Relief Program (TARP). This, they promised, would result in a wave of lending that would then create jobs. It has had just the opposite effect.
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