i regret there is not a dislike button. Common sense tells us that elected politicians would like to be re-elected and avoid their own unemployment. But what is good for the politician in the instance you are referring to is also good for the nation. Throwing millions out of work because of a deep recession hurts politicians, but not nearly so much as it hurts the rest of us. We shouldn't blame politicians for stimulus, TARP and rescuing the banks -- at least those that could put up enough collateral to protect our interests -- and for arranging mergers and buyouts at a time of crisis. We should thank them!
It is fair to argue that this or that could have been done differently or better, but to suggest that swift government action was a bad idea because politicians would benefit from it while making things worse later on is nonsense. What government did in response to the financial crisis is what governments are supposed to do, and that's what we pay our public servants to do, viz., protect our interests.
It was, of course government insouciance that allowed banking and mortgage excesses in the first place. That is where we should focus our ire.
By the way, the TARP money has been nearly all repaid with interest! And where is the hyperinflation and currency debasement so often predicted in these threads. The next thing we will hear are the complaints that the U.S. currency is too strong.
Why are central banks elsewhere following in the footsteps of the U.S. Fed. Is it because politicians elsewhere want to be re-elected and don't care what horrible harm QE does. I hardly think so! It's because QE works to rescue economies in deep recession, whereas austerity programs only make matters worse. If you want to saddle financial burdens on future generations then austerity is what you want! Austerity measures are capable of maintaining an economy in permanent recession!