Per Kanjorski in the video I linked in post #1:
Now Sec Paulson said let’s buy out these sub-prime mortgages, that’s when he came to congress, but he said give us latitude and large authority to do many things as we decide necessary … and give us $700 B to do that.
Shortly after we enacted our bill with those very broad powers, the UK came out and said No, we don’t have enough money to buy toxic assets. Instead we’re going to put our money into banks so that their equity grows and their not bankrupt.
And so the UK started that process and that’s true, it was much cheaper to put money in banks .. as equity investments than to start buying their bad assets because it came early we determined we would probably have to spend 3-4 Trillion of taxpayer’s money to buy these bad assets and we didn’t have that, we only had 700 Billion.
So Paulsen made a complete switch -- went in and started putting money in buying securities and re-investing in the banks of the US.
Why? Because if you don’t have a banking system, you don’t have an economy.
McConnell knows that if given the chance his head will be in the noose along with many Congress Criminals...WE MUST SWEEP both parties’ incumbents out and we will have an honest investigation about who, what & why of TBTF, FRS Congress, Treasury, IRS, Hedge funds, etc, etc....who can be the Sheriff....I nominate the only true Maverick, SP!