Hank Paulson’s inside jobs

[Riot]

The OWS crowd needs to wake up and instead of focusing on further taxing the 1%, focus on reducing the government's involvement in anything but governing. The idea of something being too big to fail is ludicrous and a set up for a ripoff.

They've been focused on that since the beginning. You don't really have a clue what OWS is about, do you?

Jon Stewart explains well what happened here in his usual manner (apologies to Professor Butterscotch): http://www.thedailyshow.com/full-epi...011-bob-costas

[dellinger63]

Originally Posted by Riot

They've been focused on that since the beginning. You don't really have a clue what OWS is about, do you?

While I've seen a plethora of signs that say 'tax the rich' etc etc. I don't recall a single one with 'cut fannie and freddie' or any other wasteful government program including Obamacare.

Must be hard for people who cheered virtually every stimulus/bailout dime Obama put forth on some crazy notion he was 'righting' Bush's 'wrongs' to deal with it right now.

Obama, in fact, simply stepped it up with loans and stimulus money that unlike Goldman's TARP was never going or expected to be paid back even in part.

Unlike E.F. Hutton, when Obama speaks failure gets rewarded and success gets taxed or even better it just gets put on the books. The books of the guys who are financing Fannie and Freddie But no worries they (the books) are backed by the full faith and credit of the United States of America. That's where the us comes in

Oh and these same books also have and are sent ALL of the social security money. Oddly that's on the books as well, over a trillion dollars. It would be great if the Treasury and Fed followed Goldman's lead and voluntarily left the 'investment' banking side of the banking biz.

[Riot]

Originally Posted by dellinger63

While I've seen a plethora of signs that say 'tax the rich' etc etc. I don't recall a single one with 'cut fannie and freddie' or any other wasteful government program including Obamacare.

They've been there regarding the Fed. Just because you don't pay attention doesn't mean they are not way ahead of you.

Must be hard for people who cheered virtually every stimulus/bailout dime Obama put forth on some crazy notion he was 'righting' Bush's 'wrongs' to deal with it right now.

Why? What we are talking about has nothing at all to do with TARP (which has mostly been paid back) other than the lying. It is about Treasury and the Fed withholding information and lying to two Congresses, Bush and Obama.

[dellinger63]

Originally Posted by Riot

Why? What we are talking about has nothing at all to do with TARP (which has mostly been paid back) other than the lying. It is about Treasury and the Fed withholding information and lying to two Congresses, Bush and Obama.

I'm not talking about TARP money and I concede he definitely lied during his testimony to congress. What I'm talking about is those lies may have been used in the takeover of Fannie/Freddie. Since Paulson obviously gave contrary info to what he was making public to friends I'm fairly sure his group of friends includes politicians maybe even a President or two. I find it much more likely more than a few politicians knew the truth and either didn't act or were complicit in the fall and takeover of F&F.

TARP has been paid back in full and still has money coming in. F&F cost $200 billion plus and still has plenty of money going out. Fannie and Freddie employed both Rahm Emanuel and Newt Gingrich plus many others and gave their top five executives over $6 million each in bonuses following a banner year of losing money last year.

F&F to the Gov. (Congress, President, Treasury and Fed) is like Streets and Sanitation for Chicago. It needs to be returned to the private world despite the likelihood it will get eaten up. Set them free.