Bill passes Senate

[Ex-SD]

Former Bush Treasury Secretary O’Neill: Bailout is “crazy”
Paul O’Neill, who served as President Bush’s first treasury secretary, today called the bailout bill headed for Senate passage “crazy,” with “unbelievably bad” consequences.

From Bloomberg News:

Former U.S. Treasury Secretary Paul O’Neill said the $700 billion bank-rescue proposal under negotiation in Washington is “crazy,” with potentially “awful” consequences for the world’s largest economy.

“Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, in a telephone interview today. “The consequences of it are unbelievably bad in terms of public intrusion into the private sector.”

… “Is anybody thinking there?” asked O’Neill, who also served as deputy budget director in the Ford administration. “It’s too late, it’s not going to make any difference and it’s aggravating as hell when there’s a better idea and you can’t even get it in play,” he said, recognizing little success so far in pitching his own proposal.
O’Neill was the first Bush insider to publicly question the president’s judgment and decision-making ability. After he was fired, it was O’Neill who said, memorably, that Bush in a cabinet meeting was “like a blind man in a roomful of deaf people.”

[jpinpb]

LOL – blind man in a roomful of deaf people.

That sounds about right. Nailed it.

[jpinpb]

LOL – blind man in a roomful of deaf people.

That sounds about right. Nailed it.

[jpinpb]

LOL – blind man in a roomful of deaf people.

That sounds about right. Nailed it.

[jpinpb]

LOL – blind man in a roomful of deaf people.

That sounds about right. Nailed it.

[jpinpb]

LOL – blind man in a roomful of deaf people.

That sounds about right. Nailed it.

[underdose]

” “Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, …”

His blind man quote is spot on. I acually don’t remember O’Neill. He was completely overshadowed by the Maestro at the time. 2001 to 2002, that was the high point for rate cutting, one of the biggest pivotal points in this trainwreck. Did O’Neill speak out against or in favor of Greenspan’s policies at the time? Did he oppose or support the money drop tax rebates during that time? Does anyone have any other juicy quotes from O’Neill? I just find it interesting that, like Greenspan, another person who bore a fair amount of responsibility during the time this mess was being created is now speaking out about what an awful mess it is. Does he have a leg to stand on? Was he fired in 2002 for not playing ball, or is he as guilty and hypocritical as Greenspan?

[underdose]

” “Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, …”

His blind man quote is spot on. I acually don’t remember O’Neill. He was completely overshadowed by the Maestro at the time. 2001 to 2002, that was the high point for rate cutting, one of the biggest pivotal points in this trainwreck. Did O’Neill speak out against or in favor of Greenspan’s policies at the time? Did he oppose or support the money drop tax rebates during that time? Does anyone have any other juicy quotes from O’Neill? I just find it interesting that, like Greenspan, another person who bore a fair amount of responsibility during the time this mess was being created is now speaking out about what an awful mess it is. Does he have a leg to stand on? Was he fired in 2002 for not playing ball, or is he as guilty and hypocritical as Greenspan?

[underdose]

” “Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, …”

His blind man quote is spot on. I acually don’t remember O’Neill. He was completely overshadowed by the Maestro at the time. 2001 to 2002, that was the high point for rate cutting, one of the biggest pivotal points in this trainwreck. Did O’Neill speak out against or in favor of Greenspan’s policies at the time? Did he oppose or support the money drop tax rebates during that time? Does anyone have any other juicy quotes from O’Neill? I just find it interesting that, like Greenspan, another person who bore a fair amount of responsibility during the time this mess was being created is now speaking out about what an awful mess it is. Does he have a leg to stand on? Was he fired in 2002 for not playing ball, or is he as guilty and hypocritical as Greenspan?

[underdose]

” “Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, …”

His blind man quote is spot on. I acually don’t remember O’Neill. He was completely overshadowed by the Maestro at the time. 2001 to 2002, that was the high point for rate cutting, one of the biggest pivotal points in this trainwreck. Did O’Neill speak out against or in favor of Greenspan’s policies at the time? Did he oppose or support the money drop tax rebates during that time? Does anyone have any other juicy quotes from O’Neill? I just find it interesting that, like Greenspan, another person who bore a fair amount of responsibility during the time this mess was being created is now speaking out about what an awful mess it is. Does he have a leg to stand on? Was he fired in 2002 for not playing ball, or is he as guilty and hypocritical as Greenspan?

[underdose]

” “Doesn’t this seem like lunacy to you?” said O’Neill, who was President Bush’s first Treasury chief, from 2001 to 2002, …”

His blind man quote is spot on. I acually don’t remember O’Neill. He was completely overshadowed by the Maestro at the time. 2001 to 2002, that was the high point for rate cutting, one of the biggest pivotal points in this trainwreck. Did O’Neill speak out against or in favor of Greenspan’s policies at the time? Did he oppose or support the money drop tax rebates during that time? Does anyone have any other juicy quotes from O’Neill? I just find it interesting that, like Greenspan, another person who bore a fair amount of responsibility during the time this mess was being created is now speaking out about what an awful mess it is. Does he have a leg to stand on? Was he fired in 2002 for not playing ball, or is he as guilty and hypocritical as Greenspan?

[cr]

I guess it goes back to the House now, where I think, and hope, I may still fail.

Correct me if I’m wrong, but Senators are on 6 year terms, and we just elected them 2 years ago. Reps are 2 years and much more sensitive to promises to vote them out if this thing passes.

Call, email, and fax your reps people.

The markets will correct with or without this POS bill. Why waste $700,000,000,000.00 PER OCCURENCE?

edit: and guess what else? The Bill has nothing substantive on executive pay! It looks like it’s all up to the Czar, err, Secretary.

[cr]

I guess it goes back to the House now, where I think, and hope, I may still fail.

Correct me if I’m wrong, but Senators are on 6 year terms, and we just elected them 2 years ago. Reps are 2 years and much more sensitive to promises to vote them out if this thing passes.

Call, email, and fax your reps people.

The markets will correct with or without this POS bill. Why waste $700,000,000,000.00 PER OCCURENCE?

edit: and guess what else? The Bill has nothing substantive on executive pay! It looks like it’s all up to the Czar, err, Secretary.

[cr]

I guess it goes back to the House now, where I think, and hope, I may still fail.

Correct me if I’m wrong, but Senators are on 6 year terms, and we just elected them 2 years ago. Reps are 2 years and much more sensitive to promises to vote them out if this thing passes.

Call, email, and fax your reps people.

The markets will correct with or without this POS bill. Why waste $700,000,000,000.00 PER OCCURENCE?

edit: and guess what else? The Bill has nothing substantive on executive pay! It looks like it’s all up to the Czar, err, Secretary.

[cr]

I guess it goes back to the House now, where I think, and hope, I may still fail.

Correct me if I’m wrong, but Senators are on 6 year terms, and we just elected them 2 years ago. Reps are 2 years and much more sensitive to promises to vote them out if this thing passes.

Call, email, and fax your reps people.

The markets will correct with or without this POS bill. Why waste $700,000,000,000.00 PER OCCURENCE?

edit: and guess what else? The Bill has nothing substantive on executive pay! It looks like it’s all up to the Czar, err, Secretary.

[Author]

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