Wednesday, September 24, 2008
Hank Paulson tell us that our banking system was sound for over a year. He was the CEO of Goldman Sachs. He knew the extreme risk taking that was going on. He was lying to the American public. Today, he is being hailed as a hero in saving our country
The Mugging of America
Hank Paulson, has committed our future generations to trillions in obligations for the sins of his buddies on Wall Street. I know many heroes, and Hank Paulson is no hero.When housing prices fall, homeowners will experience difficulty as their equity is wiped out. Furthermore, the holders of the mortgage debt will also have a loss. These losses will be greater than they would have otherwise been had government policy not actively encouraged over-investment in housing. Perhaps the Federal Reserve can stave off the day of reckoning by purchasing GSE debt and pumping liquidity into the housing market, but this cannot hold off the inevitable drop in the housing market forever. In fact, postponing the necessary, but painful market corrections will only deepen the inevitable fall. The more peop
Posted by jaffa100 @ 01:53 AM (548 views)
2 thoughts on “Hank Paulson tell us that our banking system was sound for over a year. He was the CEO of Goldman Sachs. He knew the extreme risk taking that was going on. He was lying to the American public. Today, he is being hailed as a hero in saving our country”
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planning4acrash says:
Conflict Of Interest? Report Says Goldman Sachs ‘Among Biggest Beneficiaries’ Of Paulson’s Bailout
– Geez, these guys are just running around giggling, making jokes about us now.
planning4acrash says:
Check out Lew Rockwell’s amazing podcast, shows are 10-15min segments with top level economists, to quickly get up to date with the Austrian School of Economics, which, during the Great Depression, were saying exactly what they are saying now. They were right then and are right now.