Stripping Paulson of His Remaining Power & Money [Update]
Now, with bipartisan congressional anger mounting, we may see a forceful legislative campaign to take back what remaining money Paulson wants to give away to his friends on Wall Street.
HuffPost's QuickRead
While Paulson Waffles, the White House Dawdles, and Congress Dithers, the Economy Continues to Burn.
So, $290 billion into his bailout plan, Hank Paulson is calling for a do-over. Now there is a confidence booster -- it shows just how uncertain Washington is about how to keep the economy from imploding.
Parting Gifts
Different judgments about the intentions of Bush senior in the transition period can be reached. In the sequel, however, it is becoming ever clearer that Bush junior is devoting his last days in power to a final orgy of cronyism.
Audit the Books!!!
The first thing Obama should do to get the economy back on track is publicize the financial record of the Bush Administration. Every business knows that "if you can't measure it, you can't manage it."
Hank to Homeowners: Drop Dead!
Addressing homeowner woes is apparently too complicated, so Hank Paulson wants to move on to massive infusions for big banks and help for student loans and consumer credit. This strategy is mystifying.
Crash Test
I know that 600,000 jobs hang in the balance over the auto industry bailout, but wait, I have a solution. Why don't we convert the factories to alternative energy sector plants?
Objects in Mirror Seem More Relevant Than They Appear.
What should Washington do when the Motor City begs for oil? The question, it seems, is not "to bail out or not to bail out." The question is how to bailout.
Masters of the Universe II: Just who is Obama?
The election on November 4, 2008 has brought us full circle from the events of September 11, 2001. People all over the world mourned the destruction...
Meet the $700 Billion Bailout Czar, Neel Kashkari
There is a new Czar in America -- the man who will be running the $700 billion budget bailout/rescue program -- assistant secretary of the Treasury for International Affairs, Neel Kashkari.
The New World Economy
The financial balance of power is shifting. China, Brazil, even Japan can all claim more sound economies than the United States. They expect a voice, and they are not asking permission.
Fearing Rejection, Bush Backs Off Bailout Request
Per my post earlier today, this is huge news if it holds: Nov. 17 (Bloomberg) -- The Bush administration told congressional aides it won't ask lawma...
Bailout Watch: Bush's Subtle Scheme to Stop Obama Reforms
It looks like the Bush administration is going to do everything it can to keep things just the way they are.
Class Warfare with a TARP
It stands for Troubled Asset Relief Program, but the first word should really be Troubling. The haste with which it was created... is the best evidence of its flawed nature.
Hammering Hank Paulson: "No Homework" Media Prefers to Bash
One of the more interesting aspects of the economic crisis is that it has forced the mainstream media to confront a financial world that, frankly, it ...
The Bungled Bailout (Or the Perils of Paulson)
Given the last decade's malignant transformation of U.S. finance, providing federal transfusions without needed corrective surgery is not medicine but unwise favoritism and cosseting.
Calling Paulson's Bluff
Paulson spent the past two weeks playing a game of chicken with firms like Lehman Brothers and AIG. Now he is playing even higher-stakes chicken with Congress and the economy.
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Paulson Remains Opposed To Using Bailout For Automakers
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Jan 20 cant come soon enough. they should just tell paulson to pack his trash and leave, and take his bald houseboy with him.
if 1 million go unemployed, he gets us closer to feudalism.
i don't know anyone who should be or is looking for an auto loan, a student loan or to get a credit card. who goes into debt in this rocky environment?
the consumer is not buying and for good reason. we are way beyond our means. we are not going to start buying because of this or because we get a $300 tax refund.
you want us to spend? cut a $1 million check to every American and it would still be cheaper than the cost of this bailout.
Discover a new LAYER of corruption by Wall Street:
1. Sub-prime puts a 125% mortgage on a $250,000.00 home so loan is at $312,500.
2. Bank packages it and sells it with fees added to bring its artifical value of $365,000+
3. "Credit crunch" has everything to do with Investment Banks specious creation of Derivatives with fees added for slicing and dicing the mortgages.
So you end up with a 250,000 house with a fee of $500,000 changed to buyers of the Derivatives valued as "AAA". But in today's market the house is worth $125,000! No wonder the BANKS hate "Mark to Market" as it forces buyers to realize a write-down for every $500 to $125 or in some cases worse!
That means that we should focus on the mark-ups by the Investment Banks as the LARGEST area of Corruption! So we have LAYER UPON LAYER of CROOKS taking Trillions from our KIDS Future!
This will take an incredible amount of UNWINDING and we have only begun!