Treasury Secretary Henry Paulson? For Whom Does He Work?

Question

Didn't Treasury Secretary Henry Paulson urgently request discretionary authority to spend $750 Billions to rescue US economy from mortgage jeopardy?

Why is he now taking the initiative to direct funds to the institutions who helped to create the questionable mortgage securities?

Are "We The People" ignorant enough to overlook this clever ineptitude?

Answer 1

Q: Treasury Secretary Henry Paulson, for whom does he work?



He's appointed by George Bush and approved by the Senate. He is sworn to obey the US Constitution, but for all practical purposes he works for the president.



Q: Didn't Treasury Secretary Henry Paulson urgently request discretionary authority to spend $750 Billions to rescue US economy from mortgage jeopardy?



A: Yes he did, but this half-baked plan was originally designed for the purpose of allowing George Bush's family and friends to rip off the US Treasury - not to stabilize the US Economy.



Q: Why is he now taking the initiative to direct funds to the institutions who helped to create the questionable mortgage securities?



The problem is that if all these banks and financial institutions (quasi-banks) declare bankruptcy at once there would be a domino effect and the whole economy would collapse and everyone would lose their money except the $250,000/account guaranteed by the FDIC in the federally chartered banks.



Q: Are "We The People" ignorant enough to overlook this clever ineptitude?



A: "We The People" are deliberately being kept in the dark by a criminal administration that should have been impeached 5 years ago for their criminal actions. Unfortunately, Congress is scared to death to act against the Bush Crime Family because it appears that Bush has threatened to kill each and every member of Congress who would act against him.

Answer 2

The treasury secretary is a cabinet position, this individual works for the president.



"Didn't Treasury Secretary Henry Paulson urgently request discretionary authority to spend $750 Billions to rescue US economy from mortgage jeopardy?"



He sure did.



"Why is he now taking the initiative to direct funds to the institutions who helped to create the questionable mortgage securities?"



Because those institutions were foolish with those securities and they need to get them off their balance sheets.



"Are "We The People" ignorant enough to overlook this clever ineptitude?"



Some are ignorant, but all of us are incapable of doing anything about it, short of revolting. Apparently, this is a giant lie, because while they initially said the money was going to be going to bailout the subprime lending industry, it then went on to purchase stock in banks, and now their is talk of spending it on the auto industry. I feel duped and deceived extraordinarily.

Answer 3

At the same time that, yes, there is a crises, and yes it was caused by a lack of responsibility of those same businesses that want a free market and the"freedom to make their own decisions about their business and don't want government interference". The double Standard here is deceiving and very dangerous considering that those companies now are asking for the same government that they "don't want interfering in their businesses to bail them out of the trouble that they inflicted upon themselves and dragged the whole country into it . People are still loosing their homes and jobs, the loans that suppose should help businesses to survive and homeowners to keep their homes is going to the real state investors or to banks to be invested in stocks!? not to the people that really needs it. This is a big scam to protect the same ones that brought us to this mess and not the people that is loosing homes and jobs. I came from Brazil when in the 80's everyone lost their savings and other investments (middle class) because the special interests took all the bail out money ( exactly like it's happening here now), many CEO's got the "bail out" money and invested in property and other businesses in a foreign country, other than Brazil, so the money could not be tracked. All of us lost every single penny we had saved for years. The Brazilian gov. at the time, told us "we will borough it and we will pay you back. Well, almost 10 years down the road, they paid us back. I had $ 10,000.00(equivalent in dollars) and I received $200.00. The money lost value because they start to print new money. It was a mess. I think Americans are smarter than Brazilians(the majority have more education at least) and should not allow it to happen here.

Answer 4

Transparency is mandatory. nonetheless there is little of it interior the $seven-hundred billion bailout. there has been plenty noise on Capital Hill approximately this. so some distance as Paulson changing his ideas on paying for up poisonous mortgages, I agreed with him. If the feds purchase up all the poor credit, it ought to stay caught on the fed's stability sheet for years yet to return and the taxpayers will go through much greater.

Answer 5

The american sheeple will swallow whatever the government gives them. Yes we are ignorant enough for this and just about anything else. I swear they must be dumping sleeping pills in the water.

Answer 6

Yes.