Paulson: Troubled Assets Will Not Be Purchased

reply to post by marg6043


Well if he wants the other $350 Billion of the bailout he is going to have to explain himself to congress. Hopefully they'll have armed guards waiting on him.

To bad Bush is still President, cause I'm sure he'd just Excercise one of the few EXPLICIT rights the constitution gives him, Pardoning.

Anyone else remember when Republicans threw a hissy fit when Clinton pardoned a whole bunch of people at the end? Wanna bet Bush is going to pardon a WHOLE lot more?

[edit on 12-11-2008 by djpaec]

reply to post by djpaec


You know what is more troublesome that the new President I believe is planning to keep Paulson in his post as treasury secretary.

I will like to know if that is true, because it will only shows the truly powers that are ruling this nation.

So much for hope and change.

Originally posted by pluckynoonez
The Treasury has many "tools" at their disposal.

Hank Paulson being chief among them.

Originally posted by anachryon

Originally posted by pluckynoonez
The Treasury has many "tools" at their disposal.

Hank Paulson being chief among them.

Bah-dah-boom!

I was thinking that but was hoping one of my fellow ATSers would come through.

reply to post by anachryon


ZING!!!

Also I hightly doubt Obama will keep Paulson. I think the only possible person he'll keep from the old regime is the Secretary of Defense. But I'd say even that is in question. Because many of his underlings are the tools that were 'architects' of the Iraq war.

However one of the guys on the short list is another former Goldman Sachs CEO, the governor of Jersey. And that guy that made the comment about Women in math and science at harvard, I forget both there names.

the banks & financial houses absolutely 'knew' what their Troubled-Assets were...

the banks did not go up to the Fed loan window to 'Swap' these Troubled Assets for treasury notes/bonds, because the banks knew that then the Fede. and Treasury would itself know the depth & breath of the banks (all of them) problems -


too much knowledge by the Fed/Treas. might not provide 'rescue' or 'bailout' monies... so the banksters were playing coy with their balance sheets.

besides- some of those troubled assets could keep making money for the banks, as certain CDSwaps & other derivatives should require more money paid into the bank to perform the same function of a 'margin call'
in-other-words; the banks didn't present these 'troubled assets' because they are cash-cows...

secondly, the banks & the elite finance wizards/managers did not want the Fed/Treas. to understand that much of their 'troubled assets' were in the form of default-saps--- one example might be that many banks issued CDS paper (essentially 'bets') that the firm GM(general motors) will soon be in default-bankruptcy, and several hundred billion $$ of these swaps are outstanding...and would need to be paid if GM, Ford, Chrysler goes under....
but!... if GM, &/or the others... remain solvent ->regardless of bailouts->
then the banksters will keep & delay any payments on that default paper they guaranteed....
In-other-words the banks can remain solvent and the elites can expect
to keep their salaries & bonuses.


its all a game of cat-&-mouse, between the banks & the fed/treas rescue programs.
the banks are lying & withholding info...
the Fed/Treas with all their bailouts, rescues, TARPs, recapitalizations, injecting solvency... are being played like a violin, and the rescuers won't find out until the gains & profits for the bank execuitives are assured and pocketed.

whats going on..? Its like rats fleeing a sinking ship... but stuffing all their pockets with cash first, the pants pockets/ the jacket pockets/ the vest pockets/ the briefcase too!


we-will-we-will....fleece You ! is their anthem

well I've been watching the bailout hearings on CSPAN,and the congress is outraged over the blatant middle finger they've getting from these CEOs and whatnot but I think they're stalling waiting for a new administration before .they do anything

I think...

Just a few quotes from a man who knew what could happen over 200 years ago.

I sincerely believe that banking establishments are more dangerous than standing armies, and that the principle of spending money to be paid by posterity, under the name of funding, is but swindling futurity on a large scale.
Thomas Jefferson
Source

I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Thomas Jefferson
Source

So would this be a good time for the American people to say I Told You So!

We told Congress not to do it, but they swore they knew better than we did. I would like to send one of those huge greeting cards to my Senator with those words written inside of it.

If I have said this once I've said it a thousand times. There is only one real solution to this problem.

Have the FHA or some goverment agency become the only primary home mortgage originator in the USA. Run it as a non-profit and 4% interest rates will be a reality. Buy all the outstanding primary home loans in the country, all the mortgage back securities, all the credit lines. Give the banks 90% of their values. Once the goverment owns them all they can rewrite the terms on allof them. Reduce to 70% LTV, lower interst rates for those not upside down or delinquent. Do whatever it takes. The revenue coming in from the trail of interest will cover all the costs. the banks get the loans off their books. The credit default swaps basiclaly zero out and go away never to be seen again. Homeowners can keep their homes and start contributing mor eto the economy. It is an easy fix, all it take sis the political will to allow a future layer of profits to be taken away from the financial institutions.

This article sums it up quite well

market-ticker.denninger.net...

I dont know what else to say.

Originally posted by mybigunit
This article sums it up quite well

market-ticker.denninger.net...

I dont know what else to say.

I copied the letter, pasted it and emailed it off to my senator, who voted for the bailout after receiving countless emails not to.

For $250 billion you could buy the entire stock of JP Morgan Chase, Bank of America and Citigroup. You're gonna end up with large portions of a lot of banks if you spread that much cash around various financial stocks. You could partially nationalise a large part of the financial sector in one fell swoop.

reply to post by Chris McGee


You hit the nail on the head, that's the whole point. A lot of people think, and I tend to agree, this whole New Financial order that they're talking about. Is just a entity to control the Worlds Finances, outright instead of in the shadows. Possibly this is what the New World Order will truely be.

All countries bowing down to one organization just for credit.

Here is what I don't quite get about this whole thing.


If they are no longer intending to buy and remove the old debt to help these companies, and if they are now saying in many corners that the price tag for this bailout is really going to be closer to $3.5 trillion when all is said and done......the question is WHAT exactly ARE they doing with all of that money?

$3.5 trillion doesn't just disappear. Who is getting all of that blood money?

[edit on 11/12/08 by BlackOps719]

reply to post by BlackOps719


That is the part that we the America people has been scammed for, it is black out and the Treasury Department with its Golden boy Paulson and the federal reserve AKA global banks is hiding from the American Public and congress because in an act of treason to the American people congress gave both the Fed and The treasury the right to keep it to themselves.

Now if that is not and act of terror against the tax payer I don't know what else to call it.

reply to post by BlackOps719


Well they have that 2 Trillion the fed dished out and won't own up to.

The 700 billion bailout, with the extra 150 billion for something else, never really mentioned it in the MSM just said it there was an additional 150 Billion.

The AIG bailout is now 150 billion.
Fannie and Freddie $200 billion
Stimulus $150 billion

So that's what 3.35 trillion on there. What else am I missing?
www.usnews.com...

Forgot to mention this, just the other day it was announced that they repealed part of the tax code. Specifically the part of the tax code that says you don't get a tax cut for buying other companies/financial institutions etc.. All while everyone was paying attention to the bailout. Meaning they were planning on never buying "Illiquid assets", and letting other financial institutions gobble of the weak ones, with our money, then giving them a tax break for it!


[edit on 12-11-2008 by djpaec]

reply to post by djpaec


I love this quote from that link you posted.

Privatize the profits, Socialize the losses

reply to post by marg6043


Yeah Randi Rhodes, a liberal radio talk show host, has been repeating it since early this year. A lot of people picked up on it though, never giving her credit.

Anyone that's actually interested in this stuff should check out the
Shock Doctrine: Rise of Disaster Capitalism, talks about the free market ideals and how they use crisis' to either sneak in legilation/rule changes or overtly push them through.

Pretty eye opening stuff, but also a pretty heavy read. Took me a full month to finish it, because there's a lot of notes and sources used so I was researching what Naomi was talking about.

Originally posted by Anonymous ATS
what will it take to finally get you people off your computer and into the streets?
no amount of complaining will ever stop these bankers.

OK, what street are you out protesting on? You got broadband out there or are you using the nearest Starbucks WiFi to reply anonymously to this thread? Do you have media coverage yet? Is Geraldo there?
Go ahead General Anonymous. Lead on.