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Is Paulson Going Bank Shopping?Posted on Oct 9, 2008
Treasury Secretary Henry Paulson, with much prodding from Democratic Sen. Charles Schumer, is thinking about using some of that $700 billion to buy ownership stakes in shaky banks. The scheme would ostensibly give taxpayers a share in the fortunes of the bailed-out institutions. The prospect of pumping taxpayer money into unstable banks is hard to swallow, but then so is the current plan to buy up all the junk securities that none of these institutions can sell to anyone else.
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By cyrena, October 9, 2008 at 10:52 pm #
“By their own admission, economists don’t know what’s happening, why it’s happening or how it happened. I don’t buy it for a nano-second.”
~~~
Me either Felicity. Not buying this shit AT ALL. They’ve known for over a decade exactly how this was gonna play out. They just jacked up the timing.
Then again, maybe they DIDN’T jack up the timing, considering your suggestion that this might just be the excuse to cancel the elections.
I mean, it’s really the only thing that makes sense. They’ve spent the past 8 years literally stealing everything that isn’t nailed down, and laundered trillions of our dollars through the sands of Iraq and Afghanistan, to lead straight to their off shore accounts, where the money is probably stored in gold. The escape paradise has already been developed..what more is there?
Then there’s the stationing of US troops on US soil to handle ‘civil disruptions’ and rumors of martial law that I never paid much attention to until now. (I’ll come back with the link to that piece).
Credit is so tight that I can’t even finance a textbook, and one needn’t be an economist to know what it means when the flippin’ stock market crashes.
The ‘timing’ is just too damn convenient. But, at least we’re in California. We can always beg the Native inhabitants for survival help, and then just hope that we are deserving enough of a response.
This is exactly what TAO Walker has been trying to prepare us for. I’m convinced that the plan was to get rid of all of us, so they could have the place to themselves, but I’m not leaving. AND…I’m handy with knives…
Report thisBy Folktruther, October 9, 2008 at 9:03 pm #
Finally Paulson is pretending to listen to the people.
NATIONALIZE THE BANKS! hANG THE BANKERS!
Or take away their money anyway.
Report thisBy dihey, October 9, 2008 at 7:20 pm #
I live in Texas. Would it not be something if Texas went democratic as it did in the previous depression?
Report thisBy KDelphi, October 9, 2008 at 6:01 pm #
This is Bush’s final middle finger to everyone but the haves and the have mores.
Fuck you, poor people.
He has done some other things in his “last hurrah” days.:
Changin the endangered specise act—Fuck you , animals.
Selling nukes all over the world. Fuck you , planet.
Denying SCHIP—Fuck you , children.
Insisting on the FISA amendment: Fuck you , USA.
If the chickens are coming home to roost, they have bad aim.
Report thisBy Eric L. Prentis, October 9, 2008 at 5:43 pm #
(Unregistered commenter)
The markets have no faith in Secretary Paulson’s plan to bailout the financial system by purchasing toxic waste from US and foreign banks, since its passage the DOW is down - 2265 points. Paulson’s expected number one priority is banking’s welfare, not the wellbeing of the USA. The implementation of a solution to the banking crisis is too important to be left to those with such close ties to Goldman Sachs/Wall Street. For our good, Paulson should resign immediately.
Report thisBy GW=MCHammered, October 9, 2008 at 4:27 pm #
(Unregistered commenter)
Boot Wall Street.
Reboot Mainstreet.
What Would Bush Do?
Do Opposite!
Restore ‘99 in ‘09.
OUR Money!
OUR Public Servants!
Support National Strike Week!
Report thisBy GW=MCHammered, October 9, 2008 at 4:03 pm #
(Unregistered commenter)
You want answers? You <u>can</u> handle the truth.
Especially listen to parts 9, 10 & 11:
Roundtable Discussion on Bailout #9—Coast to Coast AM
Report thishttp://www.youtube.com/watch?v=YIApz21lD-Q&feature=related
By FENWICK, October 9, 2008 at 3:23 pm #
Felicity,
You could be right. I think George might be a little too weary. For him, the job with all its days off is probably not as easy as he thought. Leaving the WH for McCain to step in might be what’s in his mind.
Report thisBut I have also been noticing that there’s no news but bad news. It seems there should be an economic axiom here. Like, When the system is rigged and those in control want it to crash, all events even the unplanned ones break bad for the masses.
I’m starting to feel a litttle like a gnu in Africa being eyed by a predator and everyone around me who’s more secure is moving away. The anxiety from waiting for the next bad news is immobilizing.
Maybe Tao Walker has some good news in that Tiyoshpaye Way. Something that those predators the Master Class, can’t get at.
By dick, October 9, 2008 at 2:02 pm #
(Unregistered commenter)
Paulson:One of the swindlers sent to help his swindler friends pauperize the rest of us.
Report thisBy Eric L. Prentis, October 9, 2008 at 12:59 pm #
(Unregistered commenter)
Treasury Secretary Paulson forced the opening of world financial markets to complex derivatives which caused the financial crisis. Americans and the world do not trust those who created the problem to fix the problem, consequently, Secretary Paulson must go for the good of the country. This problem is too important, lets select a proven leader not mixed up in this catastrophe, the world is watching.
Report thisBy skulz fontaine, October 9, 2008 at 12:34 pm #
Paulson is treasonous swine. Guillotine darn it and start the REVOLUTION!!!
Report thisBy felicity, October 9, 2008 at 12:14 pm #
FENWICK - You don’t suppose McCain’s ‘calling off’ his campaign because of the economic ‘crisis’ was but a forerunner of Bush ‘calling off’ the election (for the same reason?) And we all thought bomb, bomb, bomb Iran would nix the election.
On to Paulson. By their own admission, economists don’t know what’s happening, why it’s happening or how it happened. I don’t buy it for a nano-second. On the other hand - an economist is the expert who can’t tell you tomorrow why what he forecast yesterday didn’t happen today.
Report thisBy FENWICK, October 9, 2008 at 12:00 pm #
“American International Group Inc., the insurer facing criticism for hosting a $440,000 event at a California resort less than a week after a federal takeover, plans another gathering for its brokers at a Ritz-Carlton hotel next week.”
The past CEO of AIG said that Cummings can stick it in his ear.
Folks, it’s all over! That’s all folks.
C-SPAN’s Susan Swain cut-off a woman this morning who brought up George’s acquired power to declare and emergency and call off the election. Ms. Swain claimed the woman didn’t wait a month between calls. That copout happens consistently when callers bring up something controversial. C-SPAN’s Washington Journal should just have quetions like, Do you prefer this brand name or that one?
Paulie passes the buck to Neil Kashkari, ole Kash ‘n Kari from Sacks of Gold. He’s 35 year old amoral nitwith who’s going to be left holding the bag. That’s the ploy, when you can see the edge of the cliff, move side and give the steering wheel to a minority. He’s young and fast, he might make it out alive.
Report thisBy Marc Schlee, October 9, 2008 at 10:10 am #
(Unregistered commenter)
It’s beginning to look a lot like crisis at Crazy George’s American Liquidation Barn.
It’s time to march.
FREE AMERICA
REVOLUTION
Report thisBy Robert Lewis, October 9, 2008 at 10:00 am #
(Unregistered commenter)
Henry Paulson, 5 weeks before he became Treasury Secretary, got a FANNIE MAE/FREDDIE MAC 30 year fix mortgage/loan for his 82 year old mother in May 2005 for 5.37%, (below rate)
webofdeception.com
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