Paulson: Government won't buy troubled bank assets

[Paulie]

Did I? Damn, I KNEW MY VOTE WASN'T PRIVATE!!!

Yeah, you haven't worn "Obama 08" all over your sleeve since you've been here or anything.

 

[Care4all]

Yeah, you haven't worn "Obama 08" all over your sleeve since you've been here or anything.

No she hasn't been? she was an avid clinton supporter....even for a bit after obama won the primary...she didn't support him...then mccain did something, can't remember what, but at that point she began supporting obama, but even then, not avidly....is how i remember it?

 

[Paulie]

No she hasn't been? she was an avid clinton supporter....even for a bit after obama won the primary...she didn't support him...then mccain did something, can't remember what, but at that point she began supporting obama, but even then, not avidly....is how i remember it?

Don't let her fool you into thinking she wasn't always planning on voting for whoever the Dem candidate ended up being.

 

[Kevin_Kennedy]

What?

I heard Nicholas Sarkozy on the radio yesterday blaming excessive American deregulations. I agree with him. You probably think it was Clinton/Carter giving poor people loans. As if that could possibly crash the world economy.

I looked on the net and here is what I found:

Free-market ideology deeply flawed, says Sarkozy
The world financial crisis shows that free-market ideology is now discredited and that economies need strong state intervention to succeed, French President Nicolas Sarkozy said on Thursday.

French President Nicolas Sarkozy urged a summit meeting on the U.S. financial crisis as African, Asian and Latin American presidents used United Nations speeches to blame American mismanagement for creating the economic peril.

Sarkozy, whose country currently holds the rotating presidency of the European Union, called for a meeting of leaders of the world's industrialized nations in November to deal with what he called the ``mad system'' that produced the meltdown.

UN Secretary-General Ban Ki-moon said the crisis ``endangers all our work'' to ease poverty and hunger in poor nations. Even Argentina, which defaulted on $95 billion of debt in late 2001, had harsh words for the U.S. about the economic contagion spreading around the world.

(snip)
Sarkozy told reporters his proposed summit should establish ``principles and new rules'' to regulate financial markets and punish those who ``jeopardize people's savings.'' Leaders should focus on excessive executive salaries that reward success without penalizing failure, he said.

• "Sarkozy [Nicolas Sarkozy, the President of France] said 'laissez-faire' economics, 'self-regulation' and the view that 'the all-powerful market' always knows best are finished."

No, I hold the Federal Reserve mostly responsible for this crisis. Though I am aware that there are more reasons than just one.

Is the French President some kind of economic genius? I hadn't heard anything about that.

If you want the truth I suggest you look at some actual economists, rather than the French President.

Ludwig von Mises Institute - Homepage

 

[Toro]

The institution with the most responsibility for this mess is the Fed, but also new technology played a big part of it too. Deregulation and lack of regulation was also a big part as well.

The GSEs making loans to minorities and poor people was an inconsequential factor.