Posted on 09/27/2008 6:22:15 AM PDT by zimfam007
Just wondering if anyone else smells a link b/w Goldman Sachs and the many people pushing this $700 billion dollar TAXPAYER bailout. Buffett offers his dire warnings re:the market and this bailout... but he just invested $5 billion into Goldman Sachs. It just seems EXTREMELY interesting to me that Paulson was the former CEO over at Goldman, the memo forwarded to Obama's team, regarding the House's Republican plan, before the meeting at the WH on Thursday afternoon came from a "reliable" sourse over at Goldman, Jim Johnson is on the board over at Goldman, Buffett is an advisor to the Obama camp and he just invested $5 billion into Goldman..... I do not know, but this really smells, um, "fishy" to me..... seems like all these people have A LOT more to gain from a $700 billion dollar tax payer bailout than they would with ANY OTHER plan. Sounds so similar to what happened to get us into this big mess in the first place... GREEDY people, trying to line their pockets at the expense of the American people, the American dream and the very foundation of this country.
Sure, I know it but I am not inclined to do an essay on it in this space.
I will offer another short observation. The free market is the best economic system with as few regulations as possible to keep the biguns from eating the littleuns. A government with limited powers and as few laws as necessary to keep order is the best government.
However, both rely on honest trustworthy people in the governed and the governors. That was the basis of this country and the principles still apply. A free country such as ours is easy to exploit by the unscrupulous. Our enemies use our freedoms and morality to destroy both.
Self-interest is human nature. When operating lawfully in the free market it artfully transforms the desires of the individual into a good for the whole. When it is operating in government, with the power of force behind it, it can easily become a bad for the whole. We are seeing that played out now.
People and morality are the key. A free system will regulate itself.
Bush should FIRE Paulson immediately. He’s disloyal for giving Obama a heads-up on House Republican plans for WH meeting on matters that should have been confidential. This was to give OB a boost.
Second, scrap the Paulson Plan. Nobody outside Wall Street wants it because it gives too much power and $$ to government and pushes the economy too far down the road to Socialism from which we might never recover.
Third, we need a new plan.
Put government resources into selling insurance against mortgage default to those holding mortgages. Homogenize the MBS asap and as much as possible, so a new GNMA futures contract can be revived at CME/CBOT to liquify this paper. Then we’ll know what it’s worth and it can trade on its own.
Then encourage the CME/CBOT to offer a default swap contract on this same paper so the market can price the insurance separately. Then the government can extricate itself from the whole mess and let the private market take care of price discovery and risk transfer.
Financial institutions that are under-capitalized can then deal with their problems via the FDIC, which is the normal mechanism for this. This is a separate problem that needs to be dealt with separately and not confused with illiquidity, or their will be a major FRAUD perpetrated on the taxpaying public.
Bush should FIRE Paulson immediately. He’s disloyal for giving Obama a heads-up on House Republican plans for WH meeting on matters that should have been confidential. This was to give OB a boost.
Second, scrap the Paulson Plan. Nobody outside Wall Street wants it because it gives too much power and $$ to government and pushes the economy too far down the road to Socialism from which we might never recover.
Third, we need a new plan.
Put government resources into selling insurance against mortgage default to those holding mortgages. Homogenize the MBS asap and as much as possible, so a new GNMA futures contract can be revived at CME/CBOT to liquify this paper. Then we’ll know what it’s worth and it can trade on its own.
Then encourage the CME/CBOT to offer a default swap contract on this same paper so the market can price the insurance separately. Then the government can extricate itself from the whole mess and let the private market take care of price discovery and risk transfer.
Financial institutions that are under-capitalized can then deal with their problems via the FDIC, which is the normal mechanism for this. This is a separate problem that needs to be dealt with separately and not confused with illiquidity, or their will be a major FRAUD perpetrated on the taxpaying public.
“They hire mercenaries who hold the rest of the world leaders at Davos as hostage.”
I think that because he’s one he assumes the Davos crowd is more important than they really are. This might actually be a good house cleaning or in computer jargon a reboot and then we look for the perps. one by one.
Why is Waren Buffett plowing 5 billion into G-S? Maybe to head off an investigation? They’re all his pals, after all.
You are right in the sense that honest and trustworthy people are needed in the market and government for few regulations to work.
However, since we have another situation of panopolies right in front of us, this proves that lack of regulations work.
These companies have entered into cross agreements globally, lobbied corrupt politicians to format laws, rules and regulations into their favor and have access to information they shouldn’t have. They sell to our enemies and lobby on their behalf too.
Free market is wonderful for the small to medium size business. Globally, no.
Just curious. Is Chelsea Clinton engaged to a young man who works for Goldman Sachs?
Quick read....did he create a self-fullfilling policy, for what reason????????
http://www.freerepublic.com/focus/f-news/2091962/posts
This bailout is a two-pronged scam. It not only gets big bucks for the DemocRATS and their donors/supporters but it also gets their messiah elected.
Redistribution of wealth?What is Bush’s involvement?I say investigate them all.
yes!
They are a lot of connections with Sachs...
also— Paulson gave Buffet insider info....
The American people have been defrauded by all of these folks with the help of DC, now prepare to be raped....
Thank you for the post:)
Bookmark for interesting reading later.
Free market is wonderful for the small to medium size business. Globally, no.
Do you not see your oversight or contradiction?
There would be no contradiction in my statement if the powers that be in government or business were trust worthy.
That was my point from the beginning. It is true across the board, domestically and internationally.
mark for later.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.