And not just the excerpt.
Now.
Knowing the backround of those involved, we have suspected this all along.
Banks no longer lending money to people and businesses that can not pay the loans back is good business, not a credit crisis.
It looks like Bush got “bad intel” once again. Hmm, do two points make a line?
I’m sure the MSM will just be all over this reeeeeel soon!
They won't, but I will.
Henry Paulson and Ben Bernanke are liars, frauds and Socialists.
There. Any questions?
We just had a crisis and our government chose to go another way. Which means they do not value free individuals or free markets.
You are a serf. The folks up in the castle have sent down a message: work harder.
The over extension of credit is much of the problem. Too many people were unable to pay their bills.
But Probably a major factor that caused delinquencys in repayments is that the price of oil and gasoline spiked. People spent their extra disposable income on basics like gasoline. Higher oil prices created inflation in everything from food to packaging to transportation.
Absolutely no economist has mentioned high oil prices as a major cause of people defaulting on their easily obtained credit. Much of the oil money was sucked right out of our economy and went to rich Arab oil monopolies.
Government needed a crisis. Democrats manufactured one. Perfect timing in an election year.
In other words...they lied. [gee, what a shock]
Throw the SOBs in federal prison for committing a fraud upon America and for treason. Oh wait. Obama will probably reward them with nice cushy positions, golden retirement umbrellas and an office in the capitol with a view.
An engineered “crisis” in order to increase the government’s control over our lives....hmmmmmm.
Who would’a thunk it!
Absolutely. The American people should be up in arms.
“The suggestion is made that Bernanke and Paulson were acting on behalf of “a particular set of businesses and financial institutions” and exaggerated the problem in order to justify “unprecedented levels of government intervention in the markets.”
I always remember that Goldman, Sachs, Paulson’s old firm, had a $20 billion stake in AIG. And, wow, AIG was the second (?) firm to receive bailout money ($80 billon), and was also the recipient of a second bailout.
This whole thing seemed suspicious as it unfolded, but as this article stresses, it was practically impossible for anyone to gather the data and analyze it when the Bush administration presented their story of the supposed crisis.
There will be many articles and books written about this in the future.
Bump for later
Well considering the country was going to go to hell THAT DAY if the bailout didn’t pass and it’s been several months now and they still have alot of the bailout money... well that says alot.
Paulson, et al, still refuse to say who and how much money each received and why they received the money.
Transparency is needed immediately.
American taxpayers should not be on the hook for wealthy folks' financial mistakes.
The media manufactures false crises and the leftist lawmakers rush to take advantage of the opportunity to pass radical left laws.
In other words, every American needs to buy this.
Now.
Riiiiight.
Bookmark.
Suggests? Are they kidding? Anyone with a TV set saw this panic happen right before their eyes. - Tom