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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (304201)	5/7/2009 3:06:29 PM
From: skinowski	1 Recommendation Read Replies (1) \| Respond to of 793671

Paulson's bailouts were designed in a panic Agree with your post, but must say that a state of panic is a very poor excuse for demanding huge amounts of money from the taxpayers. It was disappointing that Pres. Bush went along with those rapid fire panic driven schemes. I doubt that Ronald Reagan would have jumped on the bandwagon so easily. It occurs to me that while many on the left - maybe most - have a certain active dislike towards free markets, far too many on the republican side... do not trust them sufficiently. The way the Bush side embraced Paulson's plans betrays a certain shallowness of their belief in the ability of markets to repair themselves. The net result is that sometimes we must look for differences in "intent and methods" - since the actual outcomes of their policies may not be always easy to distinguish.

To: Nadine Carroll who wrote (304201)	5/7/2009 3:28:27 PM
From: carranza2	1 Recommendation Read Replies (1) \| Respond to of 793671

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.