Posted on 04/05/2008 5:07:33 AM PDT by moderatewolverine
Treasury Secretary Henry Paulson’s plan for curing ailing financial markets received poor grades privately from House Republican leaders, though they mostly refrained from public criticism that would give Democrats ammunition in an election year.
The senior Republican congressmen grumbled that the former Wall Street titan had made the same mistake as Sen. Hillary Clinton in crafting a major financial bailout. That makes it harder for markets to find their bottom, the critics say.
What particularly irked the GOP lawmakers were Paulson’s comments to the press that his plan could not be enacted completely in just one year. Whatever the outcome of the 2008 election, Paulson and his Treasury team will be gone in 2009.
(Excerpt) Read more at primetimepolitics.com ...
How come Henry Paulson did not include the Farm Credit System and the Farmers Service Agency in his grand sweep?
Or the Independent Truckers?
I know Paulson ran Goldman Sachs and must be smart but on TV he looks like the deer caught in the headlights.
Finally: they {Republicans] mostly refrained from public criticism [of Paulson]
Speak up you morons, lest you give ammo to the Dems and loose this election too. Like you did when you stuck with Rumsfeld too long (OK, flame away Rummybots, Rummy was in charge in 2004 and 2005 when things went to hell).
oops loose=lose
“Treasury Secretary Henry Paulson’s world only covers wall-street, the rest of the country can eat cake!! Proof positive of the corporate welfare leadership of the republican party.”
>>>>>>>>>>>>>>>>>>>>>>>>>>........
this action - making the gov the owner of commercial public debt- is one big step towards the Socialist paradise the left has been working for since FDR.
The one worlders of “free” trade such as Bush and most of our senators the CFR members..have moved us towards bigger and bigger government which is going to max out with some
combinations of North America Union/UN/McCain’s Union of free countries..This mega government can only function as a Socialist system as the leadership will not be elected and
the federalist ideals of states rights must be kicked aside. Many Bush foes here on FR think he is stupid I do not. Bush and the leaders of both parties are very bright men who are working for the common goal of elites (Harvard grads and such) running a world of no independent nation states..thus no war,- mega corporations will rule with them. The big fly in the ointment once USA is integrated into North American Union, will be China-who’s interests do not lie with the subjugation of China to any world authority. Strange that Communist China may be the biggest ally to those who still hold hope for a free republic in America.
To those GOP faithful: what did 6 yrs of GOP control of government get us: nothing but bigger dept of ed-less freedom of speech-loss of property rights-bigger hand outs-open borders-mass loss of jobs overseas -on and on the blind cannot see - two party system my A$$.
This moron has basically given the fed virtual absolute control over a major section of the Economy without any debate or review. It is a fait accompli!
And who are these Financial Dictators? A bunch of unelected academics who are wired into to Wall Street good ole boy system.
This solution is basically one that throws fiat money at every problem and establishes the precedent that the Gov’t should intrude into the markets whenever these wizards decide it is in the interest of whatever or whomever they have decided warrants a Gov’t bailout.
Next up will be some similar bailout for individuals who are in over their head, an act that will prop up the Bubble and end up costing much, much more. (BTW This has already been started in the House and when accomplished will be implemented with all of the efficiency of the Post Office, IRS or the Katrina Effort.) This crap is just plain wrong and Paulsen/Bernanke are really of base on this IMO.
So much for Republican Principles. The sooner W and his incompetents leave the better although the replacements that are in store are not any better. It is clear we have a serious leadership deficit to go along with all of the economic deficits we have at this point in time. :-(
Amen, and a deficit of ideas. Now BOTH parties are bankrupt.
We need a rule - no more Treasury Secretaries from Wall Street.
I vote for David Walker. Heck, let’s run him as President, then maybe we’d stop with the crony fascism.
Sad, but true!!!!
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