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Politics : Politics for Pros- moderated
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To: Nadine Carroll who wrote (304201)5/7/2009 3:28:27 PM
From: carranza21 Recommendation  Read Replies (1) of 793670
 
Paulson's bailouts were designed in a panic to inject money to keep the system afloat.

That's the innocent version.

I disagree with it because I think that Paulson, et al, cynically picked winners and losers depending on whim and cronyism.

The fact that he insisted on immunity from prosecution and from civil liability in his original 3 page plan giving him unbridled discretion on how to pass out the moolah says a lot, not to mention that he lied about his plans from inception. You might recall that he originally was going to use the funds he requested to purchase the toxic crud, then - while no one was looking or noticing too much, certainly not J6P - the scheme turned into a bail out with lots of moolah IMO going down the gurgler. Enemies like Lehman Bros. and Dick Fuld who had refused to participate in the earlier 1998 bailout of LTCM had their throats slit by Paulson.
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