senator schumer just layed the groundwork for bush, paulson and bernanke to get $150billion without any resistance.  charles schumer just slyly floated that number during the hearings and i guarantee that you will see the congress hastily approve in exess of $100 billion for paulson’s unfettered use, allowing him and the bush syndicate to ride into the sunset.  they will time another $100+ billion issuance of funds, right before bush leaves office and the money will be gone forever.  just like iraq, there will be no accountability or oversight.  the theft will be rampant.  no bid contracts will be everywhere and they will use the excuse that only the wall street bankers, the cause of the problem, are sophisticated enought to now solve the problem.

i hope that i am wrong about schumer selling us down the river and making $150 billion pallatable.

strange, the entire sense of urgency has now been tossed aside and paulson et al has now just focused on the risk to the taxpayer.  why in a single morning has the sense of urgency dissappated?  is the rag now off of the bush?  your fraud has been exposed.

Paulson is really beginning to look like the biggest liar of all.  Now he needs and wants an oversight board, now there is transparency.  he is stammering to find the word broad based.  different methodologies, different approaches, as we start, we will figure it out and start off with a simple approach.  he clearly has not even thought out a plan for this urgent trillion dollar solution that he needs.  now he wants to make it clear to people what he is going to do and will report what he has done.  if it works the way it should, this is not an expendature, it is an investment.  as the economy grows and housing values increases, these assets SHOULD increase in value, this is not fucking key for the american people.  we are not going to guarantee that the taxpayer won’t lose money.  there will be experimentation by experts.  they have attracted a variety of experts, the best and brightes.  where the fuck have these geniouses been while all of this has unwound the economy. it is amazing to me how many experts are only available in the future to help solve problems, never to prevent them.  sounds a bit like mccain’s claim to know how to win wars, solve the problems of this country, etc….BULLSHIT!

at least he qualified his statement with, if it works the way it should…..jeeze, here we go again, no guarantees, just trust me, trust me, trust, me…have confidence, the american people are at risk, i want to save the american people, taxpayers are at risk, small businesses are at risk, credit is at risk, mortgages are at risk, no shit, sherlock!  so, how about you send MY money directly to ME.  since i am the one at risk here and would love to have some of my own money back!  you rick fucks don’t even want to pay taxes yet you don’t hesitate to dip your greedy paws into the tax bucket.  What Hypocrites!!

how dare paulson and bernanke add to the meltdown of the financial markets.  wait, he just said this is not about the financial institutions.  it is about the flow of money in the financial system.  well, here is another idea, let’s just divide up the $700 billion evenly between every family in america that filed a tax return over the past 2 years (not every person since i don’t want to reward people who are irresponsibly having more children than they can afford). the money will only be deposited electronically in a regulated financial institution.  we will all have the choice to spend, save or otherwise use the money as we see fit.  whatever mount of that cash that is spent or saved, all of it will enter the economy, as an asset or as an expenditure.

paulson actually said that he was concerned that he will not have the authority to assess a tax on banks because of the limited way that congress wants to grant authority.

paulson is going to try and explain why he can’t take the corporate welfare in traunches; although, his plan is to dole it out in traunches.  paulson thinks he needs the full authority of 700 billion to stabilize the market?!  he admits that it is not going to be spent before january.  what the fuck.  he is making no sense.

Paulson is trying to convice us that this bailout is not about the companies, it is about the american people.  he says we need and want a broad range if institutions to willingly participate.  WTF, since when is it challenging to find banks to line up in the trillion dollar corporate welfare line because we have imposed a contingent reimbursement to taxpayers.

paulson is not too skilled at sleight of hand.  he is accustomed to his ivory tower where people bow to him and don’t question what he says.  he is actually trying to say he will have to work hard to get these institutions to buy into this bailout plan.?!!?

Reed rightly questioned how we will let the banks, the sellers, set the selling price for their worthless assets.  Paulson keeps talking about reverse auctions and trying to figure all of this out by gathering a group of wall street leaders and untangling this shit.  so, we should agree to something that we don’t know that we are agreeing to and leave it to you to figure it all out, later.  why is it so urgent to write a check today for a problem that has yet to be figured out.

are we going to limit the corporate welfare to only regulated institutions?

paulson keeps emphasizing the complexity and difficulty of th situation, which is actually sinking his own ship.  he claims not to have quite figured things out, yet he had the brass balls to fabricate a lie based on the urgent need to forestall a market meltdown.  i am confused here, when exactly will the money be issued?  if the urgency is now, how will there ever be time to figure it all out before the ship sinks?  why don’t you just wait to ask for the blank check until the point in time that you figure it all out?

you are a crook, paulson.  you remind me of techies who try and bullshit their way through a status meeting by using jargon and talking in meaningless circles, hoping to confuse the audience to the point that they do not realize that it is all bullshit and that there is no progress and the deliverable has not been delivered.

Bernanke can’t even explain how a reverse auction will work, when something that is worthless is being auctioned.  So, this would be pretty simple.  Let the banks give us the assets over the federal government for no cash.  it gets the assest off of their books and they can write off the losses, but not in arrears so that they get tax refunds against any taxes paid in previous years (this is the bullshit that the state of CA is doing for crook lenders in this state).  The treasury can auction the assets, as planned, and the wall street banks can derive profit, whenever they are generated, as paulson would like us to believe, when they mature to their future value.  until then, they get shit.  the best we should offer them is to take the bad assest off of their books.

All of a sudden the fox wants to tell us how to shore up the hen house!  He didn’t know what the flawed regulatory structure that was in place until he got on the inside!  Yeah, right.  These flaws are exactly what he exploited to make his hundreds of millions of dollars of personal worth.  Now he wants a federal commission?  we did have standards and enforcement, until you fuckers did away with the exisiting regulations and then prevented the state regulators and attorneys general from taking action, when they saw this train coming and wanted to stop it.

If i am already on the hook and will bear the cost, then giving you my last few pennies won’t help.  Burn in hell Paulson.

I can’t believe these Senators are allowing you to speak in circles without nailing your ass to a cross.  If the federal reserve had responsibility for regulating and maintaining stability, then you have failed miserably and should be fired, immediately.