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A solution still searching for a solution
Daily Kos —
No one could have ever predicted... Treasury Secretary Henry M. Paulson Jr. said Wednesday that the $700 billion government rescue program would not be used to purchase troubled assets as originally planned. But that was the only way to save the economy! And those "troubled assets" would one day make a huge profit for taxpayers! Those of us who urged caution and due diligence during this bailout debate argued that things were moving so quickly that 1) we didn't have a good handle on the scope of the problem, and 2) ...
Uh, Never Mind
The Corner on National Review Online —
[image] [image] NRO BLOG ROW | THE CORNER | ARCHIVES SEARCH E-MAIL PRINT RSS [image] [image] Wednesday, November 12, 2008 [image] Uh, Never Mind [ Rich Lowry ] Paulson plan goes in new direction . 11/12 04:55 PM [image] [image] [image] © National Review Online 2008. All Rights Reserved. Home | Search | NR / Digital | Donate | Media Kit | Contact Us
From bailout to stimulus
Belmont Club —
The NYT says Paulson is shifting the focus of the bailout. Mr. Paulson said the $700 billion would not be used to buy up troubled mortgage-related securities, as the rescue effort was originally conceived, but would instead be used in a broader campaign to bolster the financial markets and, in turn, make loans more accessible for creditworthy borrowers seeking car loans, student loans and other kinds of borrowing. “During times like these with a slowing economy and some deterioration in credit conditions, even the healthiest banks tend to become more risk-averse and restrain lending, and regulators’ actions have reinforced this lending restraint in the past,” Mr. Paulson said at ...
Bailout Blues
Oliver Willis —
... This whole thing is to prop up MBAs who don’t know how to run a business so that down the line they can fail and get bailed out again. Just let these companies fail and spend the billions on the people who are affected. ...
Paulson at the Helm of the Titanic
The Moderate Voice —
... At a news conference, Paulson said the $700 billion will be used instead to bolster the financial markets and, in turn, make loans more accessible for creditworthy borrowers: ...
No oversight
Political Animal —
NO OVERSIGHT.... As of yesterday, it appeared that Treasury Secretary Henry Paulson is just making things up as he goes along , unsure how to implement his bailout strategy. It's a good thing Congress mandated all kinds of oversight on the Bush administration. Or, ...
Paulson Reverses Course
Angry Bear —
By Stormy Belay that last order. Forget the financial system. Helm hard a starboard! Keep a weather eye on the consumer! It's not the banks that we need rescue. It's the consumer. Now, after panicky cries that we must rescue the banking system, Mr. Paulson, our first mate, tells us, "No, lads, the banks will not help. They are not lending us a hand." They want to sit on their cash, pay out dividends, and keep credit tight. " We are off now to, of all things, institutions that issue credit cards and consumer loans. Treasury officials said they hoped to invest about $50 billion from the bailout fund into the new loan ...
Today on Doing Time, Thursday, November 13, 2008
The Latest on Air America —
Treasury Secretary Hank Paulson is switching gears for the bailout, and we'll hear reactions today from Congress, Wall Street, and YOU.
Also, you may (not) be surprised to learn that gun sales are way up across the country in the past week, as gun stores peddle the lie that "Obama's taking yer guns" so as to boost sales before he takes office. Or maybe it's not about Obama, as one gun store owner quoted in this article suggests: maybe people are worried of "civil unrest" caused by economic chaos. Hmm, worried about the sinking dollar? Buy an AK-47.
Our guests today will be Sam Stein from the Huffington Post on Sarah Palin and why ...
For Many At The Top The Economic Crisis Isn't Cramping Any Style
DownWithTyranny! —
... We know how the Bush Economic Miracle is hitting most people: consumer spending is off the cliff, basic industries are threatened with potentially devastating ...
