Discussion in 'Wall St. News' started by Cdntrader, Oct 15, 2008.
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I actually have a bit of respect for Paulson. Basically a FUBAR situation. Meltdown... Politicians and their Pork.
He was no kid screaming wolf but was pretty straight up about his position... what needed to be done.... urgency and what the consequences would be.
I actually have more faith in his 3 page sole control bailout plan over the politicians 402 pages of shit.
Much of what needed to be done should have been done quitely behind closed doors under the National Security angle rather than stroking the whole world out.
I have ZERO respect for him and Bernanke, when both were in front of Congress and whatever other hearings that had LAST YEAR, when they were saying how housing was CONTAINED and that it would unlikely spread into the economy.
Gee ANYONE with half a brain that saw what type of mortgage products were being sold, the way mortgage back securities were being chopped up and repackaged, knew how credit worked and how companies were intertwinced. WOULD HAVE SEEN THIS COMING A MILE A WAY. And would have said it's quite possible the downturn in housing could spill into the greater economy!
NO they said the exact opposite! They had been saying that for a very long time, like the past year or 2. Until it was beyond evident how wrong they were. Now we continue to hang on every word these two IDIOTS say, and in Paulson's case, sometimes it's hard for him to even formulate words! And scarier yet, we continue to let these brain dead, conflict of interest having morons, make decisions for us?
EDIT: Two morons picked to run our economy by the biggest moron of all, BUSH!
I knew this was coming because unlike King Midus where everything he touched turned to Gold. Everything King Bush touches, turns to abolute CRAP!
By months he means years and years
That's FED speak for: "The US has several years of pain ahead of it"
whatever other hearings that had LAST YEAR, when they were saying how housing was CONTAINED and that it would unlikely spread into the economy.
It psy ops. people in their position cannot undermine confidence, they have others say it for them. They are not dummies. postive statement are the norm, it is done in families to "protect" others, in business it preserves the balance "the need to know" concept. It serves no purpose to "panic" people. They do have to take the heat though for their statements, it comes with the territory.
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