Time Magazine: Paulson has been working on bailout plan FOR 6 MONTHS!!!!!

Discussion in 'Economics' started by ByLoSellHi, Sep 24, 2008.

  1. From another forum and another person (not my post):

    "Okay. I'm convinced that the American People are being fleeced now. Read this, and if you agree, demand answers from your elected representatives.

    As recently as September 16, 2008, Paulson said the financial system was find (youtube video available).


    So, for 6 months, Paulson has been working on this bailout plan, while saying the financial system is fine up until about a week ago, and now there is a catastrophic emergency that requires a trillion dollars NOW from Congress via a blank check."
  2. dinoman


    Please don't take this the wrong way, but "Time Magazine" is a laughing joke full of fucking idiots! Tell us something new or real that is not slanted as shit "Time Magazine".

    I view "Time Magazine" as spineless fucking Jelly fish!

  3. No big deal. Much like many traders, he was hedging his movie on the bailouts.

    Actual, this makes Paulson seem more "in tune" than what he has been showing.

    He worked on plan B if Plan A did not work out.

    If most of America would opperate on such a "Method" then maybe they would not be loosing their HOMES, CARS, JOBS, etc.

    As much as I dislike the "700 Billion" bailout, Paulson pre-empting ideas are a smart move.

    Could you imagine if the Democrats had appointed a Sec of Tres.

    Dow would be at 8000 today as they would have dropped the ball even harder.

    Nevertheless, Wall Street is over as we know it. Traders will be looking for jobs, at least the majority as SHORT SALE BAN will be extended pass the elections and Liquidity will dry up.

    Question is, does unemployment stop at 10% or does it go to 30% even with the bail out.

    Time will tell.
  4. Yeah Oct 2 is probably gonna come and go with no change in the short ban.

    I really didnt want to have to go get a job but that appears to be my future.

    Maybe a job in govt where i can sit back and watch youtube all day and still collect a check.
  5. western


    A complete and total LIE. Paulson claims to have working for months. Yet the weekend before, he casually allowed lehman to go bankrupt and left aig hanging. And that was the catalyst that led to the near-crash.
  6. lpchad


    It's been awhile since I've held a real job. Can you give advice for everyone's transition back to the cubicle?
  7. toc


    In actuality the bail out package makes sense. It will absorb the massive shock to the financial system and stop the run on banks and money disappearing from the society. Bush did talk some useful business today afterall :D

    On Larry King Live Clinton also mentioned that bail out packages in the past have turned into a small profit for the taxpayers as US economy is resilient and taxpayers get their monies back. It even happend with $40B bailout of Mexico and US even made 600M profit on that $40B bailout investment.

    US financial system is far better and higher league than Mexico so taxpayers will not come out short.

  8. Did you see Palin at the NASCAR rally on Fox?

    boy she looked good!