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Henry Paulson is a very confident guy. Sitting in his office Wednesday morning before heading up for a second day of grilling in front of skeptical members of Congress, the Treasury Secretary seemed certain he'd get the massive new powers and huge sums of money he's asking for, despite the feverish horsetrading and recriminations still unfolding on the Hill. "I believe we're going to get a bill that works and a clean bill," he told TIME. "It certainly won't be exactly what we asked for, it never is, but it's got to be sufficient to let us do the job." And Paulson thinks he'll get it soon. "We're right in the period where the sausage is being made," he says, but "I clearly believe we're going to get it done this week. We need to get it done this week."
Paulson: 'I Believe We're Going to Get a Bill That Works' - TIME
I'm sorry, I just don't want to give this guy 700 billion dollars.
To quote Mike Pence:
"The truth is, every time somebody tells you that you've got to do the deal right now, it usually means they're going to get the better part of the deal."
That's part of what's bothering me, too. I know we have to do something to stop the freefall... but, frankly, when Bush tells me that we need to act "fast"... and Paulson says "we will talk about these issues later"... it makes me go hmmmmmmmmmmmm
Fool me once; shame on you. Fool me twice............... won't get fooled again.
I'm sorry, I just don't want to give this guy 700 billion dollars.
To quote Mike Pence:
"The truth is, every time somebody tells you that you've got to do the deal right now, it usually means they're going to get the better part of the deal."
That's part of what's bothering me, too. I know we have to do something to stop the freefall... but, frankly, when Bush tells me that we need to act "fast"... and Paulson says "we will talk about these issues later"... it makes me go hmmmmmmmmmmmm
Fool me once; shame on you. Fool me twice............... won't get fooled again.
Agreed. I don't want the quick fix bandaids as we've had in the past that have led to this. Congress needs to sit down and weigh the pro's and con's and come up with a viable solution that will ensure the survival of our economy.
A couple of us way back when oil first shot up this past time stated that anyone living close to the red was now (then) in the red and living off credit cards. Been about 6 months. This is the result. Their credit is tapped and they can't pay.
Now if a dumb jarhead can figure than out, how come these people we put in office to keep this shit from happening can't?
I think it's about time they earned their damned pay.
I think the awful truth is they all got rich off our stupidity.. yep. they go in ordinary men and they all come out millionaires. No other explanation.
I'm sorry, I just don't want to give this guy 700 billion dollars.
To quote Mike Pence:
"The truth is, every time somebody tells you that you've got to do the deal right now, it usually means they're going to get the better part of the deal."
I am totally with you on this one.
Certainly the way they want to structure this deal is not in the best interests of the American people.
If we take these banks bad paper we should OWN those banks.
Simply as that.
Paulson: 'I Believe We're Going to Get a Bill That Works'
I am totally with you on this one.
Certainly the way they want to structure this deal is not in the best interests of the American people.
If we take these banks bad paper we should OWN those banks.
Simply as that.
A big challenge for Treasury officials will be deciding whether to buy the troubled investments near the values at which the banks hold them on their books. That would help minimize losses for financial institutions. Driving a hard bargain, however, would protect taxpayers.
"Many are tempted by a strategy of trying to do both things at once," said Lawrence H. Summers, a former Treasury secretary in the Clinton administration. As a hypothetical example, Mr. Summers suggested that an institution could have securities on its books at $60, but the current market price might only be $30. In that case, the government might be tempted to come in at about $55.
