Levitt, Siegel and Poole on the Paulson Plan

Three titans of economics join Bloomberg to weigh in on the Paulson Plan.

Arthur Levitt suggest that the plan is a bold and essential move to alleviate risk and support confidence while William Poole disagrees and remains skeptical on all counts and believes that it is unwise for the government to muck about in market mechanisms and further doesnt understand how these grand ideas will work.

Jeremy Siegel essentially agrees with Levitt though is cold on the short seller pause.

Category:

News & Politics

Tags:

• economy
• recession
• paulson
• bailout
• tax
• payers
• depression

[dnarby]

Anybody who thinks this is the problem of one party or another is deluding themselves.

This problem has been brewing for generations. It is the logical result of our fractional banking system.

Simply put, the government isn't in control of 99% of the money supply. The banks are.

Whoops!

[dkadagian]

Welcome to the USSA. Free market capitalism no longer exists. The government will now decide who wins and who loses. And shock of shock - their buddies in finance are being baled out by a middle class that never participated in the greatest economic expansion in human history. Oh, and they get to keep their bonuses. What a country.

[jpandyaraja]

LAUGH KARL (MAX ) LAUGH !!!

the paragons of free market are going communists !

so much for "creative destruction " advice give to japan by the same people few years ago

[KEYOTWISTEDJOKER]

Have you Americans been scared enough yet by your goverment?

If so, once again you will now have to sit back and suck it up.

[armyveteran101st]

This is not a "bailout", people! This is the rescue of regular Americans, and keeping them from suffering the consequences of what would turn into an economic catastrophe if the market is allowed to follow its impersonal, cold course without interference...

[Ian7570]

So, if the bailout goes through American taxpayers are on the hook, there will be no accountability and a very few people are bound to become disgustingly rich (most likely the top people in the Bush administration...Bush, Cheney, Paulson etc...). If the bailout doesn't go through you face a huge economic crisis. Wow, great choices.

[ficote72]

Tax payer should own what they bail out?

No way, that's not Paulson's plan. His plan is to bailout goldman keeping their shares private and lending to tax payers the same money they are taking from them, it is a no lose deal, I take your money and lent it to you back charging the usual usury on the money.

[mastior]

TAX PAYORS MUST OWN WHAT THEY BAIL OUT Tax Payors must OWN what they bail out.

NO MORE FEDS,

America Investment Reserve, fed res, is unneeded.

Congress/Senate must originate its own Reserve

since they are the ones who have the BUCKS.

1. Where's the World Money Mkt. when America needs it?

2. Stop GIVING Tax Dollars to other countries

3. Time to collect money owed to USA.

4. No Profitizing, NO CEO's

5. PAULSON LIES, JEWS BAILING OUT THE JEWS

[mastior]

Tax Payors must OWN what they bail out.

1. Where's the World Money Mkt. when America needs it?

2. Stop GIVING Tax Dollars to other countries

3. Time to collect money owed to USA.

[virginlampoil]

Interesting... that the next failure may have been Goldman Sachs, the firm Hank Paulson was the CEO of.

Wonder how many friends he has there? and how responsible he still feels about keeping the firm intact?

[CBound]

too complicated!

sheesh, I've just committed one of my pet peeves... :)

[CBound]

My second sentence should read:

"Don't you know what is wrecking our nation is NOT just one political party!"