Well maybe he is and maybe he isn't but even ByLo provided nothing at all to back up his sensationalistic headline. Ken Lewis vs. Benny Boy. I have feeling I know who will win that battle of public opinion.
Since you OBVIOUSLY know how we can fix this economy, why don't you share with the rest of us your miracle cure?
Excellent question. I had high hopes for Paully V when he came into in this Admin as an Advisor. My guess he is muzzling himself out of respect for the office of the Fed Chairman. Hopefully he's providing good advice from the shadows.
From some of the things in print, he more or less is saying "boys, we are in a hell of a mess." That is what got my attention.
How do you guys consistently rationalize blaming Bush and his appointees for not seeing this economic problem? As far back as 2003 if not earlier the banking committees in congress were told to curb or change their policy's. Bush's enonmic team is not only on record but video taped their concerns. What the frick have you "knuckleheads" been watching? Quit drinking the Obama juice. Accept responsibilty for what you saw, condoned and ignored yourselves!
The only miracle cure is to let things fall into the place as they should, propping up the economy with the printing press, creating TARP, TALF, XYZ and ABC is just a bunch of nonsense. Bailing out banks and auto companies and helping those who are late on their mortgages or creating new programs to help those nearing foreclosure is foolishness. Time is the only thing that will cure this crisis as I said many times before. All it is, is one big Fu$king JOKE............
What he did was come out and say relax everyone donât sell your stocks yet, wait till Goldman Sachs is finished selling. Because if you start selling Goldman will have to sell at even lower prices, and thatâs not how we want things to go.
Please feel free to provide the video-tape of a Bush economic advisor ( such as Glenn Hubbard ) cautioning us about bad policy . . . NEC chief Larry Lindsey and Treasury Secretary Paul O'Neil "stumbled". As I recall, O'Neill was out of sync ideologically with Bush, and Lindsey failed to run the NEC to Bush's satisfaction. Enter Karl Rove and Dick Cheney . . . then John Snow, Peter Fisher, Stephen Friedman and Josh Bolten. As I recall, they ALL supported a "strong" dollar policy . . . and what happened to the DOLLAR over the 8 years of the Bush Administration? It got cut in HALF.
http://www.youtube.com/watch?v=VgctSIL8Lhs Please don't choke on anything! oh and that would be Mr. John Snow to you!
I got smoked buying the dollar at various times between fall of 2007 and last spring-hell I didn't even make the losses back on the rally. And I used to flip out that Paulson wouldn't defend the currency BUT it was good for the country. Much of the 02-07 recovery was because of a competitive dollar. Secondly it's not the job of the Treasury to "prop up" the currency.