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Home › Forums › Financial Markets/Economics › My God….What IS Paulson going to do with the $700B taxpayers gave to the Fed?

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  • November 12, 2008 at 8:36 AM #14419
    Coronita
    Participant

    I just heard on the radio as I was getting into work…Paulson announced that the $700B bailout money ISNT going to be used to buy bad mortgages to allow banks to wipe their slate clean..

    While this eems good, WHAT THE HELL DOES PAULSON PLAN TO DO WITH THE $700B OF TAXPAYER MONEY THAT CONGRESS AUTHORIZED?

    Sorry. Breathe in, breathe out…

    If this isn’t a bait-and-switch, I don’t know what the hell is….

    http://finance.yahoo.com/news/Stocks-lower-as-Paulson-apf-13544353.html

    November 12, 2008 at 8:50 AM #303167
    Navydoc
    Participant

    I just read this little item myself. What an incredible waste of time and money. Now the government wants to buy stakes in the banks to “encourage normal lending”. I interpret this as throwing money at the problem and hoping it goes away.

    Besides, in my view banks are doing more “normal” lending now. The last thing we need is for banks to resume 2005 lending.

    November 12, 2008 at 8:50 AM #303612
    Navydoc
    Participant

    I just read this little item myself. What an incredible waste of time and money. Now the government wants to buy stakes in the banks to “encourage normal lending”. I interpret this as throwing money at the problem and hoping it goes away.

    Besides, in my view banks are doing more “normal” lending now. The last thing we need is for banks to resume 2005 lending.

    November 12, 2008 at 8:50 AM #303555
    Navydoc
    Participant

    I just read this little item myself. What an incredible waste of time and money. Now the government wants to buy stakes in the banks to “encourage normal lending”. I interpret this as throwing money at the problem and hoping it goes away.

    Besides, in my view banks are doing more “normal” lending now. The last thing we need is for banks to resume 2005 lending.

    November 12, 2008 at 8:50 AM #303528
    Navydoc
    Participant

    I just read this little item myself. What an incredible waste of time and money. Now the government wants to buy stakes in the banks to “encourage normal lending”. I interpret this as throwing money at the problem and hoping it goes away.

    Besides, in my view banks are doing more “normal” lending now. The last thing we need is for banks to resume 2005 lending.

    November 12, 2008 at 8:50 AM #303539
    Navydoc
    Participant

    I just read this little item myself. What an incredible waste of time and money. Now the government wants to buy stakes in the banks to “encourage normal lending”. I interpret this as throwing money at the problem and hoping it goes away.

    Besides, in my view banks are doing more “normal” lending now. The last thing we need is for banks to resume 2005 lending.

    November 12, 2008 at 8:56 AM #303177
    XBoxBoy
    Participant

    [quote=Navydoc]I interpret this as throwing money at the problem and hoping it goes away.[/quote]

    Isn’t that SOP for the government? Why would they do anything different this time?

    November 12, 2008 at 8:56 AM #303622
    XBoxBoy
    Participant

    [quote=Navydoc]I interpret this as throwing money at the problem and hoping it goes away.[/quote]

    Isn’t that SOP for the government? Why would they do anything different this time?

    November 12, 2008 at 8:56 AM #303565
    XBoxBoy
    Participant

    [quote=Navydoc]I interpret this as throwing money at the problem and hoping it goes away.[/quote]

    Isn’t that SOP for the government? Why would they do anything different this time?

    November 12, 2008 at 8:56 AM #303538
    XBoxBoy
    Participant

    [quote=Navydoc]I interpret this as throwing money at the problem and hoping it goes away.[/quote]

    Isn’t that SOP for the government? Why would they do anything different this time?

    November 12, 2008 at 8:56 AM #303549
    XBoxBoy
    Participant

    [quote=Navydoc]I interpret this as throwing money at the problem and hoping it goes away.[/quote]

    Isn’t that SOP for the government? Why would they do anything different this time?

    November 12, 2008 at 9:03 AM #303570
    Navydoc
    Participant

    Sigh…I wish I could argue with you.

    Looks like our government is learning the definition of idiocy AGAIN.

    (performing the same action repeatedly and expecting a different result)

    November 12, 2008 at 9:03 AM #303627
    Navydoc
    Participant

    Sigh…I wish I could argue with you.

    Looks like our government is learning the definition of idiocy AGAIN.

    (performing the same action repeatedly and expecting a different result)

    November 12, 2008 at 9:03 AM #303554
    Navydoc
    Participant

    Sigh…I wish I could argue with you.

    Looks like our government is learning the definition of idiocy AGAIN.

    (performing the same action repeatedly and expecting a different result)

    November 12, 2008 at 9:03 AM #303543
    Navydoc
    Participant

    Sigh…I wish I could argue with you.

    Looks like our government is learning the definition of idiocy AGAIN.

    (performing the same action repeatedly and expecting a different result)

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