What's Good About The Bailout ?
- Thread starter libertad
- Start date
Sept. 23 (Bloomberg) Federal Reserve Chairman Ben S. Bernanke warned lawmakers that failure to pass a rescue plan to take over troubled assets from financial firms would pose a threat to markets and the economy.
``Action by the Congress is urgently required to stabilize the situation and avert what could otherwise be very serious consequences for our financial markets and for our economy,'' Bernanke said in testimony prepared for delivery today to the Senate Banking Committee. ``
http://www.bloomberg.com/apps/news?pid=20601087&sid=aup6mUni8Pq4&refer=home
``Action by the Congress is urgently required to stabilize the situation and avert what could otherwise be very serious consequences for our financial markets and for our economy,'' Bernanke said in testimony prepared for delivery today to the Senate Banking Committee. ``
http://www.bloomberg.com/apps/news?pid=20601087&sid=aup6mUni8Pq4&refer=home
That may be true - but any accrued benefits should not go to those executives whose failures or willful decisions precipitated the crisis. Don't reward failure - esp one this big.
Exactly.....Reward those who help you win.....
As a matter of fact....
What the government should do is to cut a deal with Paulson to make the most money possible for the US Taxpayer....in the new US Govt Hedge Fund...and pay him and his staff purely on performance...
This is something Paulson CAN DO.....
.................................................
Man....the last thing the US needs is for a bunch of emotional politicians and the media running this show.....
As a matter of fact....
What the government should do is to cut a deal with Paulson to make the most money possible for the US Taxpayer....in the new US Govt Hedge Fund...and pay him and his staff purely on performance...
This is something Paulson CAN DO.....
.................................................
Man....the last thing the US needs is for a bunch of emotional politicians and the media running this show.....
Sadly... one way or another... the WRONG PEOPLE are likely going to benefit most from all of this...
Have you noticed the effort to "rush legislation approval" while we're all in a bit of shock?
Like the Patriot Act? Like NOW!
Personally, I think it's all planned and orchestrated... things are going EXACTLY the way the Powers want them to...
Think about it...
Can you name one time in US history when a government program to raise money for the citizens' use was more profitable than private industry? Links, please.
Paulson doesn't need the incentive. Recall he sold something like $600 million of GS stock tax free to take the Treasury job.
Only if Congress confiscates his money will he have an incentive. Hell, they are going socialist anyway, so that should be acceptable.