Paulson, Bernanke Defend Bailout Process AKA Bawney and Maxine are having a meltdown

[WillowTree]

Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke waged a stout defense on Capitol Hill Tuesday of their management of a $700 billion financial bailout just one week after the administration abandoned the original strategy behind the rescue.

Focusing the program on infusing billions into banks -- and possibly other types of companies -- to pump up their capital and bolster lending to customers was deemed a faster and more effective approach to stabilizing the financial system than buying rotten assets from financial institutions, the centerpiece of the original plan, Paulson said.



Paulson, Bernanke Defend Bailout Process - FOXNews.com Elections

 

[rayboyusmc]

It just seems a little bit of a conflict of interest that Paulson was the CEO of AIG or Goldman Sachs prior to his current job. He must have had something to do with their current demise and now he bails them out with little oversight.

Also, they aren't using the money for lending yet as far as I have read.

 

[WillowTree]

lending to who? that is the question. who??? should they lend that money to?

 

[DavidS]

It just seems a little bit of a conflict of interest that Paulson was the CEO of AIG or Goldman Sachs prior to his current job. He must have had something to do with their current demise and now he bails them out with little oversight.

Also, they aren't using the money for lending yet as far as I have read.

Palson was the CEO of Sachs. Sachs's stock has been brutalized and violated in ways no man should ever know of.

A year ago, GS was worth $220 a share.

Today it's trading in the $60s.