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Paulson Says Us is On Its Way To Another Housing Market Crash

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If it does not reform Fannie Mae and Freddie Mac, the state-backed lenders that guarantee 90 per cent of the mortgages and were implicated by economists in the financial crisis, the US may face another housing crash, former Treasury secretary Hank Paulson will say in an interview with Bloomberg tonight. “If the government keeps doing this, and markets aren’t allowed to work, we’ll be right back where we were in 2007 and 2008.”

Paulson also warned that the growth in US welfare spending – known there as entitlements – was pushing the budget continually further into the red, and called on Congress and the government to at least slow its growth, for example by raising the retirement age and means-testing Medicare – the old-age healthcare benefit.

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That's called a bail-in? TARP mark 2,3,ad infinitum on the way.

The refuse to accept that you cannot cure debt with more debt, but given who they are enthralled to that should be no surprise.

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Says the man who decided to let capitalism work, saw it was going to bankrupt a lot of his mates and decided to flood the financial system with free cash to protect everyone from their own greed?

A few of the squid#s competitors were put out of business - rumour played a large part, they swept up the scraps, got themselves covered and status of depositor banks nad then the bail in came.

How lucky.

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The same applies to the UK, where's our version of Paulson to yell into Osborne's stupid ears?

Eh? Paulson is our version of Osborne

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Learning from your mistakes may be better than refusing to learn.

Yes, it will be very interesting to see this interview. Paulson has had time to reflect on what happened and may have come to a better understanding now.

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The same applies to the UK, where's our version of Paulson to yell into Osborne's stupid ears?

What an idiot I is!

Given Paulson was behind the TARP plan, our version would have to be someone like Ed Balls. He's shameless enough...

Deliciously ironic in many ways that he's now saying this, so presumably he was speaking into his bathroom mirror.

Eh? Paulson is our version of Osborne

Not quite as much of a knob as Os surely? I didn't think they were quite as bad over there.

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If it does not reform Fannie Mae and Freddie Mac, the state-backed lenders that guarantee 90 per cent of the mortgages and were implicated by economists in the financial crisis, the US may face another housing crash, former Treasury secretary Hank Paulson will say in an interview with Bloomberg tonight. “If the government keeps doing this, and markets aren’t allowed to work, we’ll be right back where we were in 2007 and 2008.”

Paulson also warned that the growth in US welfare spending – known there as entitlements – was pushing the budget continually further into the red, and called on Congress and the government to at least slow its growth, for example by raising the retirement age and means-testing Medicare – the old-age healthcare benefit.

So the guy who was literally on his knees to persuade Nancy Pelosi to agree a 700 billion taxpayer giveaway for his banking friends is now suddenly concerned that old people's healthcare might be too expensive?

700 billion dollars would have bought a lot of hip replacements.

And after bailing out said banks he suddenly rediscovers the virtues of allowing the market to work? :lol:

Suddenly the world is crawling with bailed out rich guys who are deficit hawks- what a f*cking joke. The time to be worried about the deficit was before spending billions trying to save the wall street sink holes- who even now are blowing the next wealth destroying bubble- this time is stocks and shares.

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  • 246 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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