Paulson: Don't use bailout money for automakers

Discussion in 'Chit Chat' started by swtrader, Nov 18, 2008.

  1. (I dont favor any bailouts, but is it just a coincidence that Paulson came from Goldman Sachs? Does that influence his opinion that all of the bailout should go to wall street?)

    AP – Treasury Secretary Henry Paulson testifies on Capitol Hill in Washington, Tuesday, Nov. 18, 2008, before … WASHINGTON – Treasury Secretary Henry Paulson told Congress on Tuesday that the administration remains firmly opposed to dipping into the government's $700 billion financial bailout fund for a $25 billion rescue package for Detroit's Big Three
  2. #1) It means the streets short position on auto sector is proceeding according to plan.

    #2) Ah, everyone is not in long yet, gives us another day or two to cover and go long.