Paulson's game of fear - a humble perspective wrought from experience

Discussion in 'Economics' started by wilburbear, Sep 20, 2008.

  1. I worked at a place for ten years that is also now saying, "Give us a rule change that we want, or the results will be disastrous." Sorry I can't be more specific than that. I believe my previous organization is only trying this tactic because they see Paulson getting what he wants in Washington by saying the same things. And who in Congress could withstand such an attack on the senses? Congressmen don't even know what a plain-vanilla option is. Paulson and his gang know this. The only problem is, looking from my perspective where a proposed "rule change" "must" be enacted, I remember plenty of times where we didn't have the benefit of this particular way of doing business, and we simply made a few adjustments and carried on with our business. So, it's a little disheartening to see that the public continues to be abused by people who have greater knowledge of how the financial markets work.

    There might be a few ways to handle these abusers:

    1)Ask Paulson, exactly what is the disaster you foresee? How do you know it will happen?

    2)Examine past records and statements where these decision-makers have called the wrong shots, and ask them to explain the fallacies in their decision-making process. Is it possible these same mistakes are being made again?

    3)A favorite tactic in my business is to explain that changes are "just for a little while", and then work to make them intractably permanent. Ask these decision-makers, what is the bullet-proof method of exiting your proposal at some time in the future? This one will probably be tough for them.

    4)Does your particular socioeconomic group benefit from the proposed changes? How?

    5)What has been your role, if any, in contributing to the current situation, whether through action, or inaction? It will most likely be the case that the person currently at the helm has contributed, in some way, to hitting the iceberg. If this is the case, do not let them threaten you with dire predictions of what will happen if you do not act as they now wish. Do not let the abuser threaten you with eventual responsibility for a problem, where they've already carried the ball 90 yards down the field to your 10 yard line.

    This should get you going in the right direction. I hope this brief summary somehow makes it's way to Washington D.C.

  2. purple


    People dont get the "Fed" is answerable to no one.
    Just do a little studying and read history. They are not going to explain anything. Our system of debt was created to fail on purpose. ANy time you have a cartel of banks,secretly running a country then something is rotten in Denmark.
  3. NY Times says Paulson and Bernanke must go to Congress for the bailout approval.