Article

2009-07-16 Economy

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by tipper 2009-07-16 16:11|| || Front Page|| [7 views ] Top

#1 Interesting.

Posted by Phil_B 2009-07-16 19:09|| 2009-07-16 19:09|| Front Page Top

#2 Just about every policy move to right the U.S. economy after the subprime sinking of the banking system has been a bust. We saved Bear Stearns. We let Lehman Brothers go. We forced Merrill Lynch, Wachovia and Washington Mutual into the hands of others....We guaranteed bank debt. We set up the Troubled Asset Relief Program (TARP) to buy toxic mortgage assets off bank balance sheets. But when banks refused to sell at fire sale prices, we just gave them the money instead. Dumb move. So we set up the Public-Private Investment Program to get private investors to buy these same toxic assets with government leverage, and still there are few sellers.

These moves were all orchestrated by Hank Paulsen and other honchos of Goldman Sachs, and lo and behold, while they did little for the economy, Goldman Sachs posted record profits and paid no income taxes!

Posted by Lumpy Elmoluck5091 2009-07-16 20:03|| 2009-07-16 20:03|| Front Page Top

#3 Ummm, you just proved the banks are stronger than the government, thus above the law.

Posted by Redneck Jim 2009-07-16 22:30|| 2009-07-16 22:30|| Front Page Top

23:54 trailing wife
23:34 KBK
23:21 James
22:38 Redneck Jim
22:30 Redneck Jim
22:23 Dale
22:19 Barbara Skolaut
22:17 Barbara Skolaut
22:16 Barbara Skolaut
22:14 Barbara Skolaut
22:13 Barbara Skolaut
22:05 Redneck Jim
22:03 Chief
22:02 Dale
21:57 Anguper Hupomosing9418
21:55 Anguper Hupomosing9418
21:24 Dale
20:54 Frank G
20:54 Waldemar Slainter9268
20:50 Waldemar Slainter9268
20:34 Nimble Spemble
20:31 Bright Pebbles
20:17 lotp
20:03 Lumpy Elmoluck5091