Comments on: Paulson To Use Fannie and Freddie As Conduit to Bail Out His Friends http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/ Firedoglake weblog Thu, 26 Nov 2009 10:52:57 -0600 http://wordpress.org/?v=2.8.6 hourly 1 By: cinnamonape http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678555 cinnamonape Sat, 11 Oct 2008 18:56:36 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678555 <p>Congress will not return to session until after the election break…so that gives Paulson all the time he wants to utilize the “privileges” to rape the Treasury and future middle class taxpayers as best he can. We definitely need to use the returns of our Congresspersons to pressure them to rescind many of the provisions of this law. The problem, of course, is it’s law…and it could easily be vetoed by Bush, now. And who knows whether the lameduck Congress would jump away from Bush (as they are certainly going to get lucrative jobs from the Banks and Financial Houses if they support Paulson). </p> <p>But it could obliterate any future chance for them to run for office in their districts. I’d suggest that folks like Donna Edwards, Feingold, etc. at least push revisions. Maybe they could get some votes on the record that could be used for progressive opponents down the road.</p> Congress will not return to session until after the election break…so that gives Paulson all the time he wants to utilize the “privileges” to rape the Treasury and future middle class taxpayers as best he can. We definitely need to use the returns of our Congresspersons to pressure them to rescind many of the provisions of this law. The problem, of course, is it’s law…and it could easily be vetoed by Bush, now. And who knows whether the lameduck Congress would jump away from Bush (as they are certainly going to get lucrative jobs from the Banks and Financial Houses if they support Paulson).

But it could obliterate any future chance for them to run for office in their districts. I’d suggest that folks like Donna Edwards, Feingold, etc. at least push revisions. Maybe they could get some votes on the record that could be used for progressive opponents down the road.

]]> By: Mauimom http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678541 Mauimom Sat, 11 Oct 2008 18:30:44 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678541 <blockquote><p>Feeling mighty good… I inadvertently ended up as a front pager here and the BoSox won game 1…! :D</p></blockquote> <p>Please do so again for the same effect!!</p> <p>Go Sox!</p>

Feeling mighty good… I inadvertently ended up as a front pager here and the BoSox won game 1…! :D

Please do so again for the same effect!!

Go Sox!

]]> By: bigbrother http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678527 bigbrother Sat, 11 Oct 2008 18:20:46 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678527 <p>Have you seen <a href="http://www.pbs.org/moyers/journal/10102008/watch.html" rel="nofollow">Soros on Moyers last night.</a> A man Hungary during the communist/Fascist struggle in Europe as the world was sliiding into war as Hitler’s imperialism was enacted. It was economics. Socialism vs. FAscisim. How much influence government has in market distribution.<br /> He is opposed to Paulson in the drivers seat.<br /> He prefers well regulated free markets. Soros says for almost 3 decades the markets have been building up to this meltdown upon the edge we are teetering. They waited 3 months to long to get in to fix it. They are using the wtrong approach, He favors the Buffet approach of buying the banks stock to recapitalixe the financial industry. Reregulating and controlling leverage.<br /> We are in for quite a stretch of contraction.</p> Have you seen Soros on Moyers last night. A man Hungary during the communist/Fascist struggle in Europe as the world was sliiding into war as Hitler’s imperialism was enacted. It was economics. Socialism vs. FAscisim. How much influence government has in market distribution.
He is opposed to Paulson in the drivers seat.
He prefers well regulated free markets. Soros says for almost 3 decades the markets have been building up to this meltdown upon the edge we are teetering. They waited 3 months to long to get in to fix it. They are using the wtrong approach, He favors the Buffet approach of buying the banks stock to recapitalixe the financial industry. Reregulating and controlling leverage.
We are in for quite a stretch of contraction.

]]> By: alank http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678393 alank Sat, 11 Oct 2008 14:15:20 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678393 <p><a href="http://www.vanityfair.com/politics/features/2008/10/hitchens200810" rel="nofollow">According to Christopher Hitchens</a>, Congress willingness to bend over at the drop of a hat is an essential element of what constitutes a banana republic. Ours is a banana republic. Mmmmmmm, bananas!</p> According to Christopher Hitchens, Congress willingness to bend over at the drop of a hat is an essential element of what constitutes a banana republic. Ours is a banana republic. Mmmmmmm, bananas!

]]> By: perris http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678271 perris Sat, 11 Oct 2008 12:50:49 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678271 <p>it would have also been investing in the new technology that was needed for efficiency, we could be half way there to energy independance if that magot named reagan didn’t rescind the programs put into place by carter to make us secure</p> <p>these republicans have torn down this country and her future</p> it would have also been investing in the new technology that was needed for efficiency, we could be half way there to energy independance if that magot named reagan didn’t rescind the programs put into place by carter to make us secure

these republicans have torn down this country and her future

]]> By: Novista http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678263 Novista Sat, 11 Oct 2008 12:44:58 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678263 <p>Bear was OK until JPMC got a look at their book and saw a $12 million long position in gold. As JPMC is typically short on gold, it was an aha! moment. Thus the delay from March to April 8, which gave them time to drive the price of gold down $100, and merging the shorts and longs, they were laughing all the way home.</p> Bear was OK until JPMC got a look at their book and saw a $12 million long position in gold. As JPMC is typically short on gold, it was an aha! moment. Thus the delay from March to April 8, which gave them time to drive the price of gold down $100, and merging the shorts and longs, they were laughing all the way home.

]]> By: BooRadley http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678252 BooRadley Sat, 11 Oct 2008 12:27:56 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678252 <blockquote><p>So policy makers pursued policies to get consumers to send by borrowing. And we see the result.</p></blockquote> <p>Unions for example pressured Democrats to raise CAFE (Corporate Average Fuel Economy)standards, so US Auto manufacturers could sell more gas guzzlers. This increased crude imports and a huge wealth transfer. If we had invested/borrowed to make more fuel efficient cars, we would have transferred less wealth out of the US and been increasing value and the sustainability of the US economy.</p>

So policy makers pursued policies to get consumers to send by borrowing. And we see the result.

Unions for example pressured Democrats to raise CAFE (Corporate Average Fuel Economy)standards, so US Auto manufacturers could sell more gas guzzlers. This increased crude imports and a huge wealth transfer. If we had invested/borrowed to make more fuel efficient cars, we would have transferred less wealth out of the US and been increasing value and the sustainability of the US economy.

]]> By: perris http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678247 perris Sat, 11 Oct 2008 12:25:04 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678247 <p>THANX ecahn for that explanation</p> <p>now if barack would take these two paragraphs and string them together, we have a winning platform, the only thing I would edit is that now overused word “fundamental” it has become the new “groovy”<br /></p><blockquote> <p>The trouble is that U.S. economic policy has been captured by the economic equivalent of christian fundamentalists, i.e., economic extremists.</p> <p>The <strike>fundamental</strike> brutally ovious problem is that the consumer is the engine of the economy and the healthy underpinning of consumer spending is growth in real income, and that just ain’t happening. So policy makers pursued policies to get consumers to send by borrowing. And we see the result.</p></blockquote> THANX ecahn for that explanation

now if barack would take these two paragraphs and string them together, we have a winning platform, the only thing I would edit is that now overused word “fundamental” it has become the new “groovy”

The trouble is that U.S. economic policy has been captured by the economic equivalent of christian fundamentalists, i.e., economic extremists.

The fundamental brutally ovious problem is that the consumer is the engine of the economy and the healthy underpinning of consumer spending is growth in real income, and that just ain’t happening. So policy makers pursued policies to get consumers to send by borrowing. And we see the result.

]]> By: Elliott http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678246 Elliott Sat, 11 Oct 2008 12:23:20 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678246 <p>this all reminds me of the tulip craze back in Holland in 1634-1637</p> this all reminds me of the tulip craze back in Holland in 1634-1637

]]> By: Marion in Savannah http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678245 Marion in Savannah Sat, 11 Oct 2008 12:22:52 +0000 http://firedoglake.com/2008/10/11/paulson-to-use-fannie-and-freddie-as-conduit-to-bail-out-his-friends/#comment-1678245 <p>Egregious invites us to <a href="http://firedoglake.com/2008/10/11/pull-up-a-chair-special-edition/" rel="nofollow">Pull Up A Chair</a> upstairs.</p> Egregious invites us to Pull Up A Chair upstairs.

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