He said he used the 700 billion to stabilise the interbank lending system ensuring the banks were capitalised. What does this mean specifically? One must assume the banks used the 700 billion to cover payments to the shadow banking system (that hidden but gigantic market of mega-hedge funds llike Goldman Sachs).. The taxpayer ultimately donates to cover financial gains in a hidden system, but there's no genuine clarity here from Hank. We need Max Kieser asking the questions.
Paulson made millions himself being a free-marketeer, then, by necessity, became (with Bernake) the most interventionist regulator since the Great Depression. The GLOBAL banking system had become paralyzed! NO ONE was lending after Lehman failed! I don't see how people can fault Paulson, especially since hindsight is 20/20. The continuing fallout post-bailout is totally unsurprising, and probably would have been even more devastating w/o this intervention.
What we are witnessing here folks is nothing less than daylight robbery of the American people as the Bush administration and its thieves-in-residence - Paulson, Bernanke- plunder the coffers and mortgage the taxpayer until kingdom come knowing that they will all soon have left the White House leaving Obama - their enemy - to pick up the pieces. ...And Bush recently had the temerity to defend the whole damn corrupt edifice!
Next time a neo-con talks free markets, smack him in the chops!
Ron Paul warned us! These people are only digging us into a deep hole. First it's 700 billion, than it's 2 Trillion, yet the estimate is 5 Trillion. Others believe 10 Trillion. And all to little or no effect. What happens when your debt is doubled overnight? You default!!!
Paulson should be arrested for perjury. All he is doing is insuring that his golfing buddies get reinbursed for the losses they have incurred from being greedy.
Barney Frank,said while being pressed by Mr Independent (Lou Dobb)"Who are these people who want their money"...BF stated that *foreigner* what to be payed because these exotic securities notes were being called in. Interesting, LD didn't press BF...who are these foreinger and how much are we talking? Very interesting LD didn't follow that up.
The sovereignty of this GREAT nation I believe is being stolen from us by crooks like King Henry and by those abroad.
Lehrer, you had the wolf cornered and you didn't even ask hard questions such as:
-Why has not $1 of the bailout been leant out yet?
-Why have you spent over $2 trillion outside of the authorization of congress since this crisis began?
-Why do you refuse to tell us where that money has gone?
What people seem to fail to realize here is the amount of power Paulson has in his hands. Whether out of ignorance or self-censorship, the American press has failed the American people.
Perhaps , at one point; Greed fulled progress. Now it is detrimental.
We have to move to a non-profit society. We don't have to forsake any of our comforts to do so . We need to get speculations and debt out of our decision making.
The regulators for all these banks were also power heads working for Goldman Sachs.
Gtrplyr1 2 months ago
He said he used the 700 billion to stabilise the interbank lending system ensuring the banks were capitalised. What does this mean specifically? One must assume the banks used the 700 billion to cover payments to the shadow banking system (that hidden but gigantic market of mega-hedge funds llike Goldman Sachs).. The taxpayer ultimately donates to cover financial gains in a hidden system, but there's no genuine clarity here from Hank. We need Max Kieser asking the questions.
nickgonewalkabout 5 months ago
the economy will crash again and soon, trust me !
guillaumesexprime 8 months ago
$700 Billion Dollars recuse plan.
If Bill Gates, Warren Buffet, & Oprah, put all thier money in one pile, it won't even come close to $700 Billion Dollars.
The7legacy 1 year ago
Paulson made millions himself being a free-marketeer, then, by necessity, became (with Bernake) the most interventionist regulator since the Great Depression. The GLOBAL banking system had become paralyzed! NO ONE was lending after Lehman failed! I don't see how people can fault Paulson, especially since hindsight is 20/20. The continuing fallout post-bailout is totally unsurprising, and probably would have been even more devastating w/o this intervention.
gaia1214 1 year ago
He wants to help Consumers or bring more debt onto the Americans. TIme for Paulson to go to JAIL.
chungo608 2 years ago
i wonder what happens if there is no income tax? OR tax advantage for the new average entrepreneur investing in America?
dan020350 3 years ago
What we are witnessing here folks is nothing less than daylight robbery of the American people as the Bush administration and its thieves-in-residence - Paulson, Bernanke- plunder the coffers and mortgage the taxpayer until kingdom come knowing that they will all soon have left the White House leaving Obama - their enemy - to pick up the pieces. ...And Bush recently had the temerity to defend the whole damn corrupt edifice!
Next time a neo-con talks free markets, smack him in the chops!
silverbullit733 3 years ago
Ron Paul warned us! These people are only digging us into a deep hole. First it's 700 billion, than it's 2 Trillion, yet the estimate is 5 Trillion. Others believe 10 Trillion. And all to little or no effect. What happens when your debt is doubled overnight? You default!!!
InTheSticks1881 3 years ago
Paulson should be arrested for perjury. All he is doing is insuring that his golfing buddies get reinbursed for the losses they have incurred from being greedy.
PublicRadioAmerica 3 years ago 2
Paulson is representing the interests of the large financial institutions, not "We the People".....he is a traitor to the people of the United States
monkeypeopleofearth 3 years ago 5
I despise this man greatly...
Barney Frank,said while being pressed by Mr Independent (Lou Dobb)"Who are these people who want their money"...BF stated that *foreigner* what to be payed because these exotic securities notes were being called in. Interesting, LD didn't press BF...who are these foreinger and how much are we talking? Very interesting LD didn't follow that up.
The sovereignty of this GREAT nation I believe is being stolen from us by crooks like King Henry and by those abroad.
blaquemark 3 years ago
Is this REALLY one of the best economic minds that we have access to???
ScottBoisvert 3 years ago
Mr Paulson sounds like Mrs Paulin !!!
He is Bankrupting Aerican People instead of Financial Criminals!
mail4male 3 years ago
Mark: Ouch! My stomach hurts.
Paulson: For $700 billion you can have this potion that will help with the pain.
Mark: I don't know about this... Maybe the pain will subside on its own.
Paulson: Nope. I can plainly see that you are going to suffer terribly if you don't buy my potion.
Mark: Okay, anything to get rid of this pain.
(hands over the money and drinks the potion)
Mark: Ooh, my stomach still hurts.
Paulson: Imagine how much worse it would have been if you didn't drink my potion.
CharlesVarney 3 years ago 6
Pulson's an Idiot! you can see right trough him. Evil F+*^%r
chone7 3 years ago
Lehrer, you had the wolf cornered and you didn't even ask hard questions such as:
-Why has not $1 of the bailout been leant out yet?
-Why have you spent over $2 trillion outside of the authorization of congress since this crisis began?
-Why do you refuse to tell us where that money has gone?
What people seem to fail to realize here is the amount of power Paulson has in his hands. Whether out of ignorance or self-censorship, the American press has failed the American people.
delerium2k 3 years ago 4
Perhaps , at one point; Greed fulled progress. Now it is detrimental.
We have to move to a non-profit society. We don't have to forsake any of our comforts to do so . We need to get speculations and debt out of our decision making.
silversalvo 3 years ago 2