Thursday, Sep 25, 2008
the chance to harvest new profit from their own fraud and criminal irresponsibility
The Nation: Paulson Bailout Plan a Historic Swindle
If Wall Street gets away with this, it will represent an historic swindle of the American public--all sugar for the villains, lasting pain and damage for the victims. My advice to Washington politicians: Stop, take a deep breath and examine what you are being told to do by so-called "responsible opinion." If this deal succeeds, I predict it will become a transforming event in American politics--exposing the deep deformities in our democracy and launching a tidal wave of righteous anger and popular rebellion.
Posted by malct @ 02:31 PM (869 views) Add Comment
21 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Lord D`arcy Pew said...
If Paulson (The Un-untouchable) had been about in the time of Al Capone history would been different. Mr Capone would never have gone to prison for tax evasion, in fact he would have received a massive hand out form the U.S. taxpayer. The U.S.A needs an Elliott Ness, not a P Ness.
2. sold 2 rent 1 said...
"If this deal succeeds, I predict it will become a transforming event in American politics--exposing the deep deformities in our democracy and launching a tidal wave of righteous anger and popular rebellion"
Finally, is this the destruction I have been looking for?
The destruction that will bring about CHANGE
3. inbreda said...
dunno s2r1. Cross my palm with silver and I will let you know
4. mark wadsworth said...
I don't normally do conspiracy or the-end-is-nigh theories, but this bail out is outrageous.
5. mdmick said...
An exception would be 'personality politics' where everything President X says is probably true because he/she is a great guy.
With that mind set, it would be hard to shift towards a new point of view.
Economics is a very complex subject (despite the necessary simplifications which we make to allow debate on a forum) and a lot of people feel comfortable that someone clever in a think tank is making these evaluations for them.
I am undecided on this issue but I do think that 'bail out versus market correction' is a simplification; as with any legal code, it is the small print which can be critical in whether a policy is 'good': then there is the quesion: 'good for America' or 'good for the world economy'?
I also am not sure what people in this forum would like to see. A lot of you seem to have savings rather than a property. Which result would be best for your savings? I guess it would be to see the property sector fail without your investments' sectors failing; but we can see that different investments are interrelated through interlinked contracts. So it is not such a simple question to answer. [Do you see how I am steering this towards the subject of house prices? Clever, eh?]
6. timmy t said...
They could have built a Hadron Collider around the moon for $700Bn.
7. Stevie Dee said...
Hank Paulson has looked very ill recently... poor sod!
8. malct said...
4. mark wadsworth said...
I don't normally do conspiracy or the-end-is-nigh theories, but this bail out is outrageous.
Thursday, September 25, 2008 03:53PM
mark - if we are careful, honest and sincere, the voice of reason and the voice of truth should logically find common ground - perhaps.
another perhaps - perhaps the key to unity is - - 'was / is this planned?' - is it orchestrated?
9. watchman said...
There seem to be lots of conspiracy theories floating about today...
I'm actually inclined to believe most of what they say in ways of their arguments and links to other sites, opinions etc... which actually worries me because just a while ago these same individuals were banging on about investing in the gold and commodity markets and look what happened there
Think I should just stick to my online poker tournaments :)
10. Stevie Dee said...
#8, exactly.. gold back at $900.. oil.. $26 increase in one day.. I never have got into poker.. the idea of sitting on a table "bulsh!tting about your hand" all night, has never really appealed. Best leave that to the experts: Surveyors, Solicitors, Lawyers, Politicians, Salespeople, Estate Agents and of course Traders. ;)
11. malct said...
watchman @ 4.30pm
hey mush don't tar us all with the same bush / sorry brush
I have no money in gold or any other commodity
I'm jus a human (for the time) being
how tarring us all with different brushes would make any difference at all is beyond me
but I don't know anyone who thinks like what I do
online poker tournaments sound like a great way to bring on a heart attack
12. alan said...
This situation is awful.
They don't need $700bn. They can't spend it before the new administration gets in anyway ( how long does it take to buy a defaulting house?).
This will be a landmark in US politics, no mistake. The American people are being scared and rushed into this. People who don't trust the government will multiply. It's all: "Sign, Quick, Hurry up Sign....or else".
This situation should have been predictable 8 months earlier - so how come Hank P and Ben didn't see it coming?
The whole script only goes to 2.5 pages of A4. they can do anything and buy anything. The way is open for fraud on a grand scale. Forget muggings in the malls and unsocial behaviour in cities.
Gordon is just a poodle to agree with them, if he didn't they wouldn't meet with him and his (already low) credibility would drop further.
13. beartil2010 said...
I think the following explains the whole plan from the Fed and Treasury in sufficient detail.
http://patrick.net/housing/contrib/dog.png
14. Gor said...
is it just me or are American's eyes too close together ?
15. malct said...
4. mark wadsworth said...
I don't normally do conspiracy or the-end-is-nigh theories, but this bail out is outrageous.
Thursday, September 25, 2008 03:53PM
thank you mark, your comment is very much respected, I share your concern and wonder what can be done.
16. denzil said...
Mark Wadsworth said:
"I don't normally do conspiracy or the-end-is-nigh theories, but this bail out is outrageous."
It's probably an understatement to say I don't do conspiracy either but I agree with you that it is outrageous. However, I would need considerably more in the way of fact than conjecture to go as far as saying that is a conspiracy perpetrated by a global elite. It's a financial f**k up driven by greed, coupled with an economic model that is unsustainable.
It's all so incredibly wrong on so many levels.
17. malct said...
denzil - you said "It's all so incredibly wrong on so many levels."
think about it
ask questions
consider how we are all conditioned - OK don't - stay in the box - accept the label - take the medicine
be compliant - don't complain - what a difference a 't' makes
I'm off
18. unplugged said...
mdmick @15
As you say economics sure is a very complex subject! To me, it seems that economics and the wider syatem is so complex that we have little or no choice but to put our faith in those virtuous enough to become experts in the matter and take on this huge resposibilty. Problem is that 99% percent dont have a virtuous bone in their body and have completely betrayed our trust.... and now they want us to concentrate on 'solutions' to the problem (and pay the theiving toe rags bonuses for exploiting us) rather than bringing those responsible to justice.
It also seems that the system is purposely made complex so as to enable the masses to be milked. Thats is what effectively happens after all. Its the way its always been. Knowledge is power and all that.
Well steered by the way, but it seems that house prices are the least of our concerns nowadays. Change is here it would appear. I get the strong impression that finally the 'sheeple' are going to begin to pay attention to all this.
19. goweresque said...
This deal is being sold the way a door to door encyclopedia salesman would sell it: sign now or you'll never get another chance, and imply terrible things will happen if you don't sign. The old "last chance saloon" tactic. Never fails for politicians who want to get some controversial law through at a point of maximum public fear. Absolutely shameless. I'm not even sure if the scheme will work anyway. If it does it will be swapping a deep recession now and then a recovery, for a slightly less deep recession now and then no significant growth for years to come. Rather like Japan since 1990. Maybe that's the least worst scenario we can expect. Who knows?
20. denzil said...
malct said:
"consider how we are all conditioned - OK don't - stay in the box"
malct, I'm afraid that's the same old argument.
If people don't buy into conspiracy then it's because they are stuck in a box - conditioned etc. It equally easy, if not considerably easier and yet equally as pointless to argue that those who believe that a global elite pull all the strings are impressionable, malleable and simply unable to think for themselves.
In twenty years time, people will still be harping (no pun intended) on about the global elite and there will still be no proof that they exist or ever existed.
Looks at the facts malct, not the conjecture. If it makes you happy to believe you have the inside track on the conspiracy then maybe you should examine more closely why that is.
21. unplugged said...
Denzil, the point you make is true but applies equally to your own view point. Your proof based approach to what we should or shouldnt do or believe still requires just as many assumptions as 'conspiracy'. Each of us can only know what we can see, hear, touch etc directly. At some point you have to make a leap of faith to form any kind of world view and from then on its all, to a degree, assumption really.
Its easy to form certain opinions built on a personal experience reinforced by those around you and you subconscious tendancies. Pride will do the rest to cement your conviction. Do you really understand your own brain well enough to be sure that you subconscious isnt blocking uncomfortable ideas? Equally malct's view could be re-enforced because it suggests there is more to life than the 'one life and thats that'.
You'll never have the proof you mention (short of DNA testing the ********** bloodline for example) only consensus. If you require proof to take action it might well be too late (shit I'm starting to sound like Blair!!). Your approach just makes excuses for all the problems that human kind, for all our ingenious ways cant get away from - in the same way wild CTs detract from them. If we cant agree on the truth we all need to keep an open mind insure against the worst possibilities surely?
I think its a fine line between conspiracy and 'just the way things are'. How conspiracy is defined is a good place to start. A slight change of viewpoint can lead to a radically different picture. Are we not conditioned daily by advertising from big business, Government spin, our biased teachings of history and so on? Search and the case becomes more compelling I assure you.
http://www.youtube.com/watch?v=kQhhrzHKMhI
http://www.youtube.com/watch?v=xkYiARlv3sk fact or fiction? past or present?