Monday, Sep 22, 2008
the truth about Treasury Secretary Hank Paulson $700 billion plan
Bloomberg: Morgan Stanley's Mack Seeks Protection From You: Jonathan Weil
Here's the truth about why Treasury Secretary Hank Paulson wants $700 billion of your money to bail out stupid financial companies. It's not about protecting you, the unwitting American. It's about protecting people like him. ...
Posted by joe le taxi @ 04:59 PM (398 views) Add Comment
3 Comments
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1. layers said...
"If the government didn't care enough to make sure its rules apply to Chanos, it probably doesn't really care about short-sellers. It just wants to divert attention by creating an enemy for public persecution."
Absolutely, how very true. These people are crooks who don't want a public linching, hence this b***s about short-sellers. BushCrime Co. have no intention of acually saving the economy, they simply haven't siphoned enough off yet.
Dow is down 211 points currently, which I must admit surprised me - is the market actually seeing through the 'smoke and mirrors'? Or are the PPT being stood down for some reason.
And I thought Eastenders was a good soap opera ;-)
2. planning4acrash said...
Even more is coming out now. The ban on shorting was only on a select group of financial organisations. Speculators are free now to short the productive economy. They stole our houses, now they are out asset stripping the productive economy. This is like the razed earth approach after an invasion. Like the razing of the shire in the Lord of the Rings.
3. it_is_going_with_a_bang said...
As the US Election approaches it's hardly suprising that all these - quite frankly - unfair bailouts are occuring. These bankers took the profits and bonuses and filled their pockets with gold. Now they want a helping hand.
It's like robbing a bank, being caught by the police and then being given a lift to the airport and booked onto a flight to the bahamas for month - oh and take the loot with you.
Can't wait for Gordon and Co. to try the very same method of lunacy.