Like that idiot from the bigpicture blog?
We had calls for 10% dividends on tarp and wiping out shareholders as if that was going to work. John Paulson(the HF manager) sat in front of congress and say the dividend was supposed to be higher, some said the tax payers 'needed to be protected' by sitting higher than stockholders, 'god forbid the government prevents a depression without giving the taxpayer the best risk adjusted rate of return' was their mindset. Its now pretty clear common equity is needed and they were all wrong
The perma paulson critics are quick to demand accountability for the TARP yet they gave bad advice and recommended the MISUSE of taxpayer money, how come we are not hearing their apologies?
How many of them will send their salaries to the treasury, after all how come they want to be rewarded for mistakes?
Why they hold the government and ceos at a standard they themselves are not willing to live up to? Soros is saying the FT.com that equity capital(as opposed to preferred) and a bigger tarp is needed, yes the same guy who say $700b in preferred was 'more than sufficient'
Interesting how anyone who disagrees with him is a biased market fundamentalist guided by a 'dangerous ideology' and when he messes up its just an honest miscalculation
We had calls for 10% dividends on tarp and wiping out shareholders as if that was going to work. John Paulson(the HF manager) sat in front of congress and say the dividend was supposed to be higher, some said the tax payers 'needed to be protected' by sitting higher than stockholders, 'god forbid the government prevents a depression without giving the taxpayer the best risk adjusted rate of return' was their mindset. Its now pretty clear common equity is needed and they were all wrong
The perma paulson critics are quick to demand accountability for the TARP yet they gave bad advice and recommended the MISUSE of taxpayer money, how come we are not hearing their apologies?
How many of them will send their salaries to the treasury, after all how come they want to be rewarded for mistakes?
Why they hold the government and ceos at a standard they themselves are not willing to live up to? Soros is saying the FT.com that equity capital(as opposed to preferred) and a bigger tarp is needed, yes the same guy who say $700b in preferred was 'more than sufficient'
Interesting how anyone who disagrees with him is a biased market fundamentalist guided by a 'dangerous ideology' and when he messes up its just an honest miscalculation