Paulson gets pissed at hearing

[Brian4Liberty]

Paulson and Wall St aren't going to take the blame. He got angry at that suggestion, and said that the blame lies with the lenders who originated bad loans, and the States that didn't regulate them. It's been obvious that this is all about Paulson, the Feds, Wall St and the Bush Administration covering their image, legacy and asses. They are going to extremes to hold off a collapse until they are gone. They will go to even greater extremes to avoid any liability or accountability.

 

[acptulsa]

He's blaming the states and McCain is threatening to take the states out of the business of regulating the insurance companies by shoving through a federal law that we can get any insurance deal, no matter which state it is offered in. Looks like the Tenth Amendment is the next target, doesn't it?

 

[Otter Mii-kun]

resign now

Paulson and Bernanke should both resign in disgrace. They've put our already suffering economy into further ruin.

 

[cheapseats]

Paulson and Bernanke should both resign in disgrace. They've put our already suffering economy into further ruin.

So should Bush and Cheney, yet there they sit...amidst their fabulous personal riches.

Paulson and Bernanke should be ridden out of town on a rail, then prosecuted for fiduciary malfeasance.

 

[cheapseats]

Paulson and Wall St aren't going to take the blame. He got angry at that suggestion, and said that the blame lies with the lenders who originated bad loans...

Then he should be a proponent of punitive measures against the bankers.

Someone's gotta take the hit, then someone's gotta take the blame.

Which Bad Guys are the Bigger Bad Guys prepared to sacrifice?

 

[Sarge]

Isn't that too bad. I feel the same way about them attempting to dump toxic debt on us.

The loans were packaged and sold off without homeowners knowledge. Judges are agreeing with homeowners and saying prove you own the mortgage and if they can't, the people get to keep their houses.

This is a hoax beyond belief on the American public.

 

[surf]

Paulson and Bernanke should both resign in disgrace. They've put our already suffering economy into further ruin.

i had this letter printed in the Seattle paper last Wednesday

FINANCIAL CRISIS
Federal Reserve accepts worthless collateral
I read that "Treasury Secretary Henry Paulson ... refused to toss a financial lifeline to Lehman." Yet Reuters reports, "As a deepening crisis took new, bigger victims, the U.S. Federal Reserve said for the first time it would accept stocks in exchange for cash loans."

The Federal Reserve is part of the government. Once again it is willing to accept worthless paper as collateral for loans just as it has been accepting mortgages as collateral for loans since the irrational Y2K fears nearly a decade ago.

I disagree with Sen. Jim Bunning's call for Federal Reserve Chairman Ben Bernanke and Secretary Henry Paulson to resign. I think they should be fired (sans golden parachutes). The problem is not a "liquidity crunch." The problem, as blogger Bill Anderson points out, is "massive malinvestments that MUST be liquidated. We cannot have a recovery until that happens."

Bernanke and Paulson must be too stupid to understand this and too worried about their buddies on Wall Street to accept it. Throw the bums out now, before they do more damage.

X
Redmond

 

[MsDoodahs]

Nice letter!

 

[angelatc]

He's blaming the states and McCain is threatening to take the states out of the business of regulating the insurance companies by shoving through a federal law that we can get any insurance deal, no matter which state it is offered in. Looks like the Tenth Amendment is the next target, doesn't it?

Because that has worked so well in banking, hasn't it?

I was rolling that around in my little head as I was driving this afternoon. If each state again had the right to control the banks, there simply wouldn't be a handful of major banks to fail all at once.