I cannot believe they would have Frank on here....talk about gall....the man is heavily responsible for much of our economic downturn....typical of the leftists at PBS ...sad....
Look the only way to fix the American Economy is to bring back Industry, destroy some of the unnecessary Unions and we must learn to become a nation that can stand on its own two feet again.
Paulson "wanted to show his buddies on Wall Street they would need to do something for themselves?". Yes, this after bailing out BS, FM, and FM? Ok, so for Paulson, on the third occasion the sacrificial lamb is slaughtered (Lehman Bros).
Each move they made either were mistakes compounding mistakes, or completely orchestrated.
Paulson is not a free-marketer. Saying that Paulson believes in free-markets is just not knowing what you are talking about. This explanation of what happened is just ridiculous.
Paulson is an interventionist. He believes in intervention on the market, he just happen to like more monetary interventions vs fiscal interventions, but at the end, they are distortions on the market, no matter the method you choose.
"He believes in intervention on the market" His career before the crisis seems inconsistent with this statement. I would agree that he is an interventionist within the realm of the economic crisis but outside of this I would disagree, he is more of a free-marketer.
Previously to the crisis he was a complete interventionist, starting for his support for the Fed who is the enabler of the most intervined market: the money market. It is so intervined that it is a goverment granted monopoly.
But besides the money issue he basically supports goverment having power to take money from the people and give it to banks and corporations, and he has show it during the crisis.
@hugolp Maybe Paulson believes in "free-markets" as in markets for free for the international banking elite-Illuminati who buy "markets" for pennies on the dollar after creating financial chaos. :)
The Treasury is not part of the US government in reality. It has no loyalty to us. I913 is coming home to roost! The Treasury independance act is catching up with us.
you think bush would have been a help. he had his poeple in there - the point is they should have never helped anyone. Markets go up, markets go down - and the risk is in the hands of the companies that create bubbles, period!
Yes markets go up and down, but we wouldn't have a market right now if they hadn't acted. If they had let AIG and the banks collapse there would be zero lending, which means small businesses all start to collapse, which means no jobs, which means a complete meltdown. If Ben Bernanke, who is a Conservative who believes in the free market, says we needed to help those banks...then we needed to help those banks. All the people complaining about the economy now, have no clue what it could be.
I cannot believe they would have Frank on here....talk about gall....the man is heavily responsible for much of our economic downturn....typical of the leftists at PBS ...sad....
Albertanator 2 weeks ago
Look the only way to fix the American Economy is to bring back Industry, destroy some of the unnecessary Unions and we must learn to become a nation that can stand on its own two feet again.
MasterDeek 3 months ago
barney frank is the monster... they did all of this on purpose and they raped the taxpayers of this country.. we are so screwed.
tonytonytee 4 months ago
barney frank is the monster.
tonytonytee 4 months ago
Paulson "wanted to show his buddies on Wall Street they would need to do something for themselves?". Yes, this after bailing out BS, FM, and FM? Ok, so for Paulson, on the third occasion the sacrificial lamb is slaughtered (Lehman Bros).
Each move they made either were mistakes compounding mistakes, or completely orchestrated.
You decide, i guess...
r3barcelona 4 months ago in playlist FRONTLINE: INSIDE THE MELTDOWN
Definition of "Owner's Equity in "lehman's" terms" anyone? if you catch my drift...
xXxDANMANxXx 5 months ago
How did Paulson destroy the world? By openly playing favorites.
When you play favorites, everybody immediately sees that there is no sanity anymore, much less safety. So everybody flees and freezes.
You either save everyone, or let everyone drown. But it has to be fair.
ThingsThatReallySuck 9 months ago
I believe Paulson had a conflict of interest here.
solidarity2205 1 year ago
Paulson is not a free-marketer. Saying that Paulson believes in free-markets is just not knowing what you are talking about. This explanation of what happened is just ridiculous.
hugolp 2 years ago
How so?
Gebbs57 2 years ago
Paulson is an interventionist. He believes in intervention on the market, he just happen to like more monetary interventions vs fiscal interventions, but at the end, they are distortions on the market, no matter the method you choose.
hugolp 2 years ago
"He believes in intervention on the market" His career before the crisis seems inconsistent with this statement. I would agree that he is an interventionist within the realm of the economic crisis but outside of this I would disagree, he is more of a free-marketer.
Gebbs57 2 years ago
Previously to the crisis he was a complete interventionist, starting for his support for the Fed who is the enabler of the most intervined market: the money market. It is so intervined that it is a goverment granted monopoly.
But besides the money issue he basically supports goverment having power to take money from the people and give it to banks and corporations, and he has show it during the crisis.
hugolp 2 years ago
@hugolp Maybe Paulson believes in "free-markets" as in markets for free for the international banking elite-Illuminati who buy "markets" for pennies on the dollar after creating financial chaos. :)
Jossher700 2 years ago
The Treasury is not part of the US government in reality. It has no loyalty to us. I913 is coming home to roost! The Treasury independance act is catching up with us.
arachnipope 2 years ago 2
Way to go Hank.... way to exercise your power... you sure are powerful.
namechallenged 2 years ago
you think bush would have been a help. he had his poeple in there - the point is they should have never helped anyone. Markets go up, markets go down - and the risk is in the hands of the companies that create bubbles, period!
ajs92982 2 years ago 2
Yes markets go up and down, but we wouldn't have a market right now if they hadn't acted. If they had let AIG and the banks collapse there would be zero lending, which means small businesses all start to collapse, which means no jobs, which means a complete meltdown. If Ben Bernanke, who is a Conservative who believes in the free market, says we needed to help those banks...then we needed to help those banks. All the people complaining about the economy now, have no clue what it could be.
kjsellers 2 years ago
Where was Bush and his advisory team? Letting the Ameraican Economy Collapse in the face of American People
YJR29 2 years ago
creating war and destruction... torturing detainees... wiretapping US citizens... and lots of praying.
namechallenged 2 years ago