Can You Define What A ‘Financial Institution’ Is Defined As In the Bailout Legislation (TARP)? Don’t Worry, Hank Paulson Can’t Either
I know it’s starting to look like we’re piling on Treasury Secretary Hank Paulson, and we are–for good reason.
Read this story and try to justify why this empty suit is still in office.
What is the definition of a financial institution under the Troubled Assets Relief Program (TARP), Treasury Secretary Henry Paulson was asked on Tuesday. [...]
Oklahoma Senator Jim Inhofe Calls Out Hank Paulson
More and more people, including Congressmen and Senators, are starting to see Treasury Secretary Hank Paulson for the what’s-good-for-Goldman Sachs-is-good-for-America stooge he is, in my opinion.
Senator Jim Inhofe (R-Ok) is the latest to call Paulson out:
U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation’s [...]
U.S. Government Can Keep Ownership of Banks as Long as It Wants
As we have been saying folks this bailout and the subsequent ownership power it has given to the United States government is a potential springboard to a form of socialism.
One of my primary questions as finally been answered: When does the government have to relinquish ownership in the banks and other institutions it now [...]
Treasury Department Considers Taking Ownership of Banks
What did I tell you? I wrote on Tuesday that if the financial markets continued to decline we would likely see Congress or the Bush administration come back to us and say the government needs even more control over the economy. Guess what? We may already be heading down that road:
Having tried without success to [...]
Bailout Plan Secretly In The Works For “Many Months?”
Well it would appear that way at least according to this profile of the guy tapped to distribute the $700 billion:
Kashkari, it turns out, was one of the original authors of the bailout plan. In a secretive effort over “many, many months,” he was a part of a small team at Treasury working on the [...]
Treasury Secretary Hank Paulson Urges “Patience” With The Economy
Yeah that’s right. The same man who was so anxious to get the bailout passed is now urging us to be patient.
Read what Treasury Czar Secretary Paulson had to say:
Treasury Secretary Henry Paulson said Wednesday that financial markets continue to be “strained” but he urged “patience” and said the federal government will use all tools [...]
House of Representatives Passes Bailout
After the Senate’s vote on Tuesday there was little doubt that the House would follow by passing President Bush’s and the Democrats’ socialist bailout. President Bush then quickly signed it and proceeded to praise his Treasury Secretary Hank Paulson.
The significance of this legislation can’t be understated. This is a direct step towards socialism. I don’t [...]
Senate Passes Socialist Bailout
Tonight the Senate has inched us closer to a form of socialism here in America. By a 74-25 vote, the Senate passed the $700 bailout for the financial services industry.
The ball is now in the hands of the House of Representatives. We can only hope that they don’t pass this garbage, but it looks like [...]
Karl Marx Would Be Proud of Bush, Paulson, Congressional Democrats, and Wall Street
There is a fantastic op-ed out on the Financial Post Website that really puts this prospective socialist bailout in perspective:
In his Communist Manifesto, published in 1848, Karl Marx proposed 10 measures to be implemented after the proletariat takes power, with the aim of centralizing all instruments of production in the hands of the state. Proposal [...]
Record U.S. Budget Deficit: More Good News for China
Government dollars anyone? There is plenty of money to go around, at least according to the latest budget:
The White House on Monday reported a projection for a $482 billion budget deficit for the budget year ending in September 2009, a number that would be the highest number recorded.
Senior administration officials downplayed the impact of the [...]