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My premise was simply that the bailout seems as unregulated as the financial institutions that got us into this mess.
I get that it hasn't been approved yet. I don't have much faith in a panicky election year Congress to do the right thing on this.
As for what Congress has approved, my point there was that the legislature hasn't exactly been debating things "to death" lately. On the contrary, they seem to have hair-trigger approval on any attempt to tame the financial crisis.
OK. I do agree with that point. Democrat controller congress is lost on this one - they don't know what to do and are willing to go with whatever seems to work even if that means giving the president blanket approval on these bail-outs. So is the executive branch (Paulson, etc). It's sounds reactive, not pro-active. My fear - Paulson is getting his advice from the same economic experts on Wall Street who failed to predict this mess. Sometimes bipartison politics is scary.
It's just that - both branches of government have responsibility here.
Clinton left this country with a 5 trillion surplus. Eight years later here we are talking about the same group that got us here getting their hands on - what is it now 700 billion bailout? Sorry I have lost track of the debt.
There has been so much behind closed doors - secret this and that. Why is that group going to lock us into their way of doing things for years? Where is the chance for CHANGE?????
I am not wanting to see a complete shake up but it is going to happen if not tomorrow than soon. This a crisis that all the BS is not going to make go away. Home prices have been driven up so high there are not enough people making that income to purchase them.
I went to High School with Hank Paulson thru all 4 years at Barrington HS. I found him to be most intelligent and honest as the day is long. He has tons of business experience and feel he has done a great job getting us thru the current situation. Just look how the market responded and everyone feels much better now. I am a Democrat but feel he is very good in a crises situation which he did not create. Chaulk it up to the Mortgage lenders and the greedy American public who jumped at the loans. Shared responsibility
Clinton left this country with a 5 trillion surplus. Eight years later here we are talking about the same group that got us here getting their hands on - what is it now 700 billion bailout? Sorry I have lost track of the debt.
There has been so much behind closed doors - secret this and that. Why is that group going to lock us into their way of doing things for years? Where is the chance for CHANGE?????
I am not wanting to see a complete shake up but it is going to happen if not tomorrow than soon. This a crisis that all the BS is not going to make go away. Home prices have been driven up so high there are not enough people making that income to purchase them.
actually we never had a 5trillion surplus,we had a 200billion budget surplus but the deficit was still 4.6 trillion.the 5trillion number was clintons estimate for 2013 I think,should we have followed his economic policies for that time,or so the theory goes.I"m not republiCANT or democRAT for the record,just pointing it out cause its a big misconception alot of pople have,but yeah bush still more than doubled the deficit in this disastrous administration,the worst in history by far.
I went to High School with Hank Paulson thru all 4 years at Barrington HS. I found him to be most intelligent and honest as the day is long. He has tons of business experience and feel he has done a great job getting us thru the current situation. Just look how the market responded and everyone feels much better now. I am a Democrat but feel he is very good in a crises situation which he did not create. Chaulk it up to the Mortgage lenders and the greedy American public who jumped at the loans. Shared responsibility
The fact that you found him intelligent and honest in high school is oddly reassuring. That said, honesty and intelligence does not translate to infallibility. And Paulson's going to be hiring an army of people to help who may not be honest and intelligent.
So a little oversight would go a long way.
As for the Wall Street feeling better-- that's not reassuring. This market is driven by short term thinking and profits. If it were driven instead by what these actions will do the country over the longterm, I'm not sure everyone would be so optimistic.
At this point, the Fed's job is to save America, regardless of whether or not that includes making Wall Street happy.
I went to High School with Hank Paulson thru all 4 years at Barrington HS. I found him to be most intelligent and honest as the day is long. He has tons of business experience and feel he has done a great job getting us thru the current situation. Just look how the market responded and everyone feels much better now. I am a Democrat but feel he is very good in a crises situation which he did not create. Chaulk it up to the Mortgage lenders and the greedy American public who jumped at the loans. Shared responsibility
look how the market responded?? wtf r u smoking? who cares if it went u for a few days-this type of short term thinking is why we are in the mess we are in
BX Lefty : Its easy to throw stones. Hank put forward a position to fix the mess. I dont see u or anyone with a better solution. No one called for the regulation of the mortgage mess when it was happening including the lefty's. Everyone just wanted to make money on their houses appreciation including the lefty's NOw they all whine. We have only ourselves to blame not Hank
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