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The Secretary’s New ClothesPosted on Mar 31, 2008Treasury Secretary Henry Paulson has announced what the media are calling a “massive overhaul” of America’s regulatory agencies, but columnist and liberal economist Paul Krugman isn’t impressed. Krugman doesn’t think the administration’s cosmetic solutions will mitigate our current economic crisis or prevent the next one.
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By Bob, April 1 at 2:31 pm #
(Unregistered commenter)
This is another power grab by the world banks. Pretty soon they will have bank-rupted us all, and they WILL take all our land. Bush is just helping them to do that.
Report thisBy purplewolf, April 1 at 2:07 pm #
Tsk, tsk. I must have missed your spelling of the last name of Bill Maher, spelled Marr, on another post, since it was not spelled that way for this article. So the teaching certificate, which doesn’t exist, is in no danger. I do appreciate the fact you referred to me as Professor, I am not one. However, in the teachings of my Native Indian heritage, the wolf is known as a teacher.
As for your reference: by my own admission....
I have never done drugs, illegal ones anyway. The only drugs I have used, when I remember to take them, are what my doctors have prescribed. Sorry, you loose again. I have witnessed what illegal drugs do to many and choose not to follow in the same destructive pathway as they do. I owe myself better.
My post to you was purely for humor. Winter has lasted much to long and this helps pass the time until better weather finally arrives for longer than 30 minutes a day. Also, I consider Cyrena a good friend, it’s nice to know there are others who post on TD who feel this way also.
Report thisBy don knutsen, April 1 at 10:01 am #
(Unregistered commenter)
As is the usual case, this administration’s only plan is to increase the power of the very institution that sat on its hands while all the predatory lending practices were practiced by the lending institutions / banks. There answer is to make higher profits avail. to them rather then regulate them. This same administration which stood in the way of the states trying to get a handle on these practices in the past. But ofcourse there is no accountability on this or anything else this administration does. The Bush family has a history with the central bank, grandaddy Prescott got in hot water over half a century ago. You have only to look at the past century to see the Bu$h family connections to simllar crooked dealings with the american’s dollar and their reaping the rewards. I’d imagine Grandad would be proud at the extent to which this currrent president has dismantled every agency that might have helped prevent this economic hardship for so many. But after-all, this is only happening to the “little-people”, not their base. And none of the Bu$h dynasty has ever had to experience any kind of hardship like whats facing so many these days, they couldn’t care less.
Report thisBy purplewolf, April 1 at 7:59 am #
MENSA MEMBER, YOUR NAME UNVEILS YOU.
The correct spelling is Maher, not Mahr. Also Bill Maher is younger than Cyrena, as well as myself. Both of us, as well as Bill were much to young to have induldged in the drugs used in the 50’s. So your title, much like the ones G.W.Bush claims he has earned, exists in your mind only.
Report thisBy cyrena, March 31 at 3:38 pm #
• “…To hide their lack of any actual ideas about what to do, managers sometimes make a big show of rearranging the boxes and lines that say who reports to whom.”.. “You now understand the principle behind the Bush administration’s new proposal for financial reform….”
HA! Now there’s a bit of irony for you. Or maybe we should call it an ‘understatement.” Doesn’t EVERYBODY know by now, that this ‘rearrangement’ of ‘who reports to whom’ has been the Dick Bush doctrine-principle since the beginning?
And no, it’s NOT to hide any lack of actual ‘ideas’, since they had plenty of them. It’s to HIDE those ideas, which just happen to be the creation of a fascist/totalitarian/authoritarian regime/ tyrannical dictatorship.
And, this is DAMN sure one of the ways to hide one’s real fascist intentions. They create a shadow government behind the pretend one, and it involves setting up a whole new set of ‘who reports to whoms’ but of course we the people only see the puppet one. (AKA george bush)
I think Stanley Kutler’s piece on “The Decriminalization of Corporate Crime” encompasses this really well. Worked for Hitler, Stalin, Pinochet, and Peru’s U.S. puppet Fujimori.
And what ‘next’ economic/financial crises are they talking about, when they’ve acknowledged that THIS one hasn’t been “averted”, and won’t be diminished? What ‘next’? It’s just one long continuing fall until we crash or run the fascists/gangsters out, which ever comes first.
Speaking of which, just for the sake of whatever, (maybe putting some real figures behind the housing crisis) I checked on line earlier for foreclosures in my old neighborhood in corporate slave state of TX. (checked some nearby zip codes as well).
I was shocked and awed. Seriously…I expected some negative numbers, but even I was overwhelming by the HUGE number of foreclosures in what were previously known as middle to upper-middle class neighborhoods. I’m talking HUNDREDS. Gave me quite a shock. Put some ‘reality’ to the whole thing.
Report thisBy DennisD, March 31 at 1:47 pm #
(Unregistered commenter)
“it’s all about creating the appearance of responding to the current crisis, without actually doing anything substantive.”
Perception is reality and there’s no such thing as responsibility at Bu$h Inc. - the happiest place on earth.
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