Obama remembers Lehman Bros collapse and the gains of the US since then

By Marc Castro

Sep 14, 2013 10:40 PM EDT

The fifth anniversary of the Lehman Bros. collapse is being marked by President Barack Obama as a watershed moment in American history. He is claiming that since that time, his administration had ushered in an economic recovery and warns his opponents of making moves that would result in a backslide to the gains made after the so-called 'Great Recession.'

His message is loud and clear to his Republican opponents. Don't oppose the increase in the country's debt limit, do not threaten to close down the government during a budget issue and don't push delays on the health care law or cut off federal funding to it.

The economic message comes weeks after the Syrian crisis had been set off and is nearing resolution. In a Rose Garden speech, he said that hsi government is putting in a determined effort about his stewardship of the economy. He argues that the country is better capitalized and has an improved financial sector that is extending more credit and would be the catalyst for future economic development to withstand any long term issues that would come its way.

The clear measure is five years after the government infused the banking sector with USD245 billion in taxpayer funds, the government has been paid back nearly in full.

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