Paulson's first reaction to how the markets responded to his TARP: <img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2188939>
It is interesting that Paulson and Bernanke seem to have no plans to deal with mortgage holders. Sheila Bair has been the lone voice there. When mortgage holders default in droves and stop paying banks, what happens to the banks - are they better off? The banks sit near the top of the pyramid, but how does Paulson figure he can keep the top of the pyramid he and his friends live in pristine while the base of it crumbles?
Grow up. I'm only signaling out your post because YOU should know better. The rest of the folks on this thread I already accept as clueless rubes. Maybe Bob Rubin would have been better. He's doing a BANG UP job at Citi. Don't you get quotes from overseas? How's your beloved Deutche Bank doing? Or UBS? Lloyds? ABN? The Japs? Does Paulson or TARP include THEM? First off: Paulson is the TREASURY Secretary. He isn't the Fed chairman. You know what market Paulson heads? The market that is making ALL TIME HIGHS!
Wrong. These guys own millions of shares of common. Here are a few quick examples and with these guys most of their common is NOT in trusts. DIMON JAMES: Declared Holdings http://biz.yahoo.com/t/48/3927.html LEWIS KENNETH D: Declared Holdings http://biz.yahoo.com/t/09/3809.html PANDIT VIKRAM S: Declared Holdings http://biz.yahoo.com/t/97/3791.html
Look, I see most of the appointees in this current Bush Administration as total incompetents . . . from Rumsfeld all the way to Paulson and our beloved SEC Chairman Cox ( from Orange County, California ) who REFUSES to re-institute the "up-tick" rule.