350zCommtech's Account Talk

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wv-girl said:
350Z,

Here is what they are saying now....bout the real truth?? Don't know but worth a read..link is from marketwatch.com


http://www.247wallst.com/2008/09/paulson-plan-sh.html
Click to expand...

What has become clear is that Treasury plans to purchase bad assets from banks at prices very near their original value. The risk to taxpayers under this program would be tremendous. If housing prices continue to fall, so will the value of the paper the government has purchased. Under this set of circumstances the public could be at risk for underwriting the great majority of the Treasury's purchases and never having a chance to recoup their investment.
Click to expand...

This bailout is a super SIV, funded by the US taxpayer. It will allow the rest of the world to dump their bad debts on to the US taxpayer, at their "mark to fantasy" value.

This is criminal. They are traitors to this country.
 
The more I hear about this, the more angry I am that there was a public announcement that this has to go through, at this huge expense, with no caveats, even before it was proposed to Congress or the American taxpayers, and if it doesn't the financial system will collapse.
 
cut & pasted from wikipedia on Paulson... is it foolish to hope that this bailout is altruistic?

From Wikipedia:
Civic activities
Paulson has been described as an avid nature lover.[11] He has been a member of The Nature Conservancy for decades and was the organization's board chairman and co-chair of its Asia-Pacific Council.[7] In that capacity, Paulson worked with former President of the People's Republic of China Jiang Zemin to preserve the Tiger Leaping Gorge in Yunnan province.

Paulson is also on the Board of Directors of the Peregrine Fund; was the founding Chairman of the Advisory Board of the School of Economics and Management of Tsinghua University in Beijing; and, previously served as chairman of the influential trade group, the Financial Services Forum.

Notable among the members of Bush's cabinet, Paulson has said he is a strong believer in the effect of human activity on global warming and advocates immediate action to decrease this effect.[12]

As an environmental leader and philanthropist, Paulson while at Goldman Sachs, oversaw the corporate donation of 680,000 forested acres on the Chilean side of Tierra del Fuego, which led to criticisms from Goldman shareholder groups [13]. He further donated US$100 million of assets from his wealth to conservancy causes. He pledged his entire fortune for the same purpose at death. [14] He has also been considered someone who can influence world and business leaders to think beyond the bottom line. [15]

http://en.wikipedia.org/wiki/Henry_Paulson
 
I can't help but think, at his core, Paulson is a trained, engrained broker. Every time various brokers lost me money in a 'managed account', they would follow it up immediately with 'add more money, now's the best time to buy'.
 
FUTURESTRADER said:
I can't help but think, at his core, Paulson is a trained, engrained broker. Every time various brokers lost me money in a 'managed account', they would follow it up immediately with 'add more money, now's the best time to buy'.
Click to expand...

I just wish Paulson would get some Speech Therapy. With all of his
stammering and studdering, I found it extremely dificult to listen to
him for any length of time. :sick:
 
Warren Buffett on CNBC this AM was amazing for confidence in this plan. They needed him on the Hill yesterday. He didn't like the US taxpayer paying closer to the "hold to maturity price" versus the fire-sale price which is probably the more current price for the distressed assets of the banks. But he was behind immediate action and passage... he's putting $5B up that it will get through... said he wouldn't have put money into GS if gov't wasn't going to act. Sounds like this is a done deal and we're just getting the appropriations dog n' pony show.
 
fedgolfer said:
Warren Buffett on CNBC this AM was amazing for confidence in this plan. They needed him on the Hill yesterday. He didn't like the US taxpayer paying closer to the "hold to maturity price" versus the fire-sale price which is probably the more current price for the distressed assets of the banks. But he was behind immediate action and passage... he's putting $5B up that it will get through... said he wouldn't have put money into GS if gov't wasn't going to act. Sounds like this is a done deal and we're just getting the appropriations dog n' pony show.
Click to expand...
FedGolfer,
IMHO, Warren Buffett's been a major player for the the PPT
- just look at how he's such a regular on CNBC. :suspicious:
To him, 5B is just pocket change. :nuts:
VR
 
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