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Henry Paulson
- Thread starter mgookin
- Start date
Quote from Renegen:
You're right, however a bailout will only KEEP the current flawed, financial system.
A bailout should come with strings attached. Do you for example bail out your kid without demanding something back?
AMEN brother, what bothers me the most is his absolute ARROGANCE in saying that he won't accept any tightning of regulations or constrictions on terms...BULL SHIT,
Jocks helping jocks
frigging disgusting.
exterminate these gay men.
frigging disgusting.
exterminate these gay men.
This is what he says now:
âThere have been excesses for a long time,â Treasury Secretary Henry Paulson said, denouncing âirresponsible practicesâ in which mortgages were extended to unqualified buyers, then âsliced and diced and sold all over the world.â
âItâs terrible, inexcusable, and we need to deal with it,â he said.
This was him in 2007:
Nov. 5, 2007 (Bloomberg) -- Treasury Secretary Henry Paulson says the U.S. is examining the subprime mortgage crisis to ensure that ``yesterday's excesses'' aren't repeated. He could be talking about himself and his former firm, Goldman Sachs Group Inc.
Paulson, 61, doesn't mention that Goldman still has on the market some $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was chief executive officer. Those bonds have an average delinquency rate of almost 22 percent, higher than the average of other subprime bonds from the period, according to data compiled by Bloomberg.
``He should admit to having been involved in creating the problem that we have now,'' said Representative Brad Miller, a North Carolina Democrat, who introduced a bill Oct. 22 to make firms packaging subprime mortgages liable for bad loans in some circumstances.
Starting in March, Paulson said the damage was ``largely contained'' and was no risk to the larger economy. When other credit markets began to be affected, he and others began pushing for solutions.
``I can't help but notice that when middle-class homeowners were losing their homes to foreclosure, he was pretty nonchalant about it,'' Miller said of Paulson. ``But when Wall Street CEOs start seeing trouble in their absurdly complicated financial instruments built on the mortgages of middle-class homeowners, he feels their pain.''
âThere have been excesses for a long time,â Treasury Secretary Henry Paulson said, denouncing âirresponsible practicesâ in which mortgages were extended to unqualified buyers, then âsliced and diced and sold all over the world.â
âItâs terrible, inexcusable, and we need to deal with it,â he said.
This was him in 2007:
Nov. 5, 2007 (Bloomberg) -- Treasury Secretary Henry Paulson says the U.S. is examining the subprime mortgage crisis to ensure that ``yesterday's excesses'' aren't repeated. He could be talking about himself and his former firm, Goldman Sachs Group Inc.
Paulson, 61, doesn't mention that Goldman still has on the market some $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was chief executive officer. Those bonds have an average delinquency rate of almost 22 percent, higher than the average of other subprime bonds from the period, according to data compiled by Bloomberg.
``He should admit to having been involved in creating the problem that we have now,'' said Representative Brad Miller, a North Carolina Democrat, who introduced a bill Oct. 22 to make firms packaging subprime mortgages liable for bad loans in some circumstances.
Starting in March, Paulson said the damage was ``largely contained'' and was no risk to the larger economy. When other credit markets began to be affected, he and others began pushing for solutions.
``I can't help but notice that when middle-class homeowners were losing their homes to foreclosure, he was pretty nonchalant about it,'' Miller said of Paulson. ``But when Wall Street CEOs start seeing trouble in their absurdly complicated financial instruments built on the mortgages of middle-class homeowners, he feels their pain.''
Quote from DisciplinedHedg:
This is what he says now:
âThere have been excesses for a long time,â Treasury Secretary Henry Paulson said, denouncing âirresponsible practicesâ in which mortgages were extended to unqualified buyers, then âsliced and diced and sold all over the world.â
âItâs terrible, inexcusable, and we need to deal with it,â he said.
This was him in 2007:
Nov. 5, 2007 (Bloomberg) -- Treasury Secretary Henry Paulson says the U.S. is examining the subprime mortgage crisis to ensure that ``yesterday's excesses'' aren't repeated. He could be talking about himself and his former firm, Goldman Sachs Group Inc.
Paulson, 61, doesn't mention that Goldman still has on the market some $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was chief executive officer. Those bonds have an average delinquency rate of almost 22 percent, higher than the average of other subprime bonds from the period, according to data compiled by Bloomberg.
``He should admit to having been involved in creating the problem that we have now,'' said Representative Brad Miller, a North Carolina Democrat, who introduced a bill Oct. 22 to make firms packaging subprime mortgages liable for bad loans in some circumstances.
Starting in March, Paulson said the damage was ``largely contained'' and was no risk to the larger economy. When other credit markets began to be affected, he and others began pushing for solutions.
``I can't help but notice that when middle-class homeowners were losing their homes to foreclosure, he was pretty nonchalant about it,'' Miller said of Paulson. ``But when Wall Street CEOs start seeing trouble in their absurdly complicated financial instruments built on the mortgages of middle-class homeowners, he feels their pain.''
Awesome stuff.
Do you have url(s) for the source?
Let's hang this bastard.
Quote from DisciplinedHedg:
This is what he says now:
âThere have been excesses for a long time,â Treasury Secretary Henry Paulson said, denouncing âirresponsible practicesâ in which mortgages were extended to unqualified buyers, then âsliced and diced and sold all over the world.â
âItâs terrible, inexcusable, and we need to deal with it,â he said.
This was him in 2007:
Nov. 5, 2007 (Bloomberg) -- Treasury Secretary Henry Paulson says the U.S. is examining the subprime mortgage crisis to ensure that ``yesterday's excesses'' aren't repeated. He could be talking about himself and his former firm, Goldman Sachs Group Inc.
Paulson, 61, doesn't mention that Goldman still has on the market some $13 billion of almost $37 billion in bonds backed by subprime loans or second mortgages that it created while he was chief executive officer. Those bonds have an average delinquency rate of almost 22 percent, higher than the average of other subprime bonds from the period, according to data compiled by Bloomberg.
``He should admit to having been involved in creating the problem that we have now,'' said Representative Brad Miller, a North Carolina Democrat, who introduced a bill Oct. 22 to make firms packaging subprime mortgages liable for bad loans in some circumstances.
Starting in March, Paulson said the damage was ``largely contained'' and was no risk to the larger economy. When other credit markets began to be affected, he and others began pushing for solutions.
It seems like the media will not ask for the heads of those who created this mess (Hank, Ben, Chris, Alen, ect), and will instead do the opposite and praise them for all the work they are doing to save us from the crisis..........why not give a flame thrower to the very guys who burned down half the house with a book of matches?
âNo one knows what to do. We are in new territory, this is a different game. [Neither Federal Reserve Chairman Ben Bernanke nor Treasury Secretary Henry Paulson] know what to do, but they are trying to come up with ideas.â Gee! Maybe the chief architects of this grand failure have a solution? They should be ignored then imprisoned. Perhaps they are seeking final opportunities to steal, raid, and pilfer from the public till during the final months of this Administration.
Quote from cabletrader:
What's the alternative, don't bail them out and let the whole economy go to hell in a handbasket? The individuals who created the mess will still have walked away, they were long gone with their haul of cash well before the shit hit the fan.
I'm not an economist and I don't live in the US but his way seems to be the best of two evils from what I've seen and read.
Last I heard the major banks had reported great numbers. Gee do you think Goldman falling 40% from Tuesday to Wednesday had anything to do with this sudden new urgency.
Were was that urgency with Leham,hum.