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The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs

Discussion in 'Political Discussion' started by IcyPatriot, Sep 23, 2008.

  1. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs

  2. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs

  3. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs

  4. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs

  5. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    Just the Facts: The Administration's Unheeded Warnings About the Systemic Risk Posed by the GSEs


    Last edited: Sep 23, 2008
  6. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Gee where did all the libs go? :rolleyes:
  7. PatriotsReign

    PatriotsReign On the Roster

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    Ok, you suckered me into this discussion...at least briefly. I'm not a "lib", buy I'll be glad to give this a shot!

    Paulson nominated by President Bush to succeed John Snow as secretary, boost public perception of performance.

    Bush taps Goldman CEO Paulson to head Treasury - May. 30, 2006

    The man who lied to Bush and the American people the most is Mr Paulson. He repeatedly stated that the banking and financial system was sound & solid. After all, he was the MAN when it came to whether or not reform should happen. He actually said America's financial system was sound as recently as July.

    Now this guy is supposed to be the guru of all guru's. Why would congress even discuss this issue when their guru says everything is A-OK? Secretary Paulson PURPOSEFULLY waited until the 12th hour came upon us so he could pull his power move. Think about it...of course he knew the system was a mess and would require action. So why did he wait until now?

    If he isn't the biggest LIAR in history, then he is stupid. There are no other options here. So make your choice...but I highly doubt the man is stupid.

    Also, consider the wording he wanted to have included in the package he proposed;

    "Sec. 8. Review.

    Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency."

    also consider further this statement;

    Paulson, May 2008

    "The worst is likely to be behind us,’ Paulson told the paper, in one of the most optimistic comments by a top U.S. finance official since sub-prime mortgage losses set a domino effect in motion in mid 2007."

    this is a man who has spent his entire career working on Wall Street. It is a known fact he knew what was going to happen. He patiently waited to make his move so he could take care of his old buds without congress or the American people being able to question his authority.

    Well, his game is over. People everywhere are calling him out for the liar he is. His request for section 8 will not get passed.

    I suggest to anyone interested that they Google;

    Paulson Requests Non-Reviewable Authority To ...

    and read the outrage.

    in summary, there is plenty of blame to go around. None of know who is really to blame but we can ALL agree that the main motive behind all those who caused this crisis is certainly GREED. And I'm not talking simple greed, I'm saying it was the kind of greed that is written in the bible...born of evil.

    Just watch Paulson speak on the news and you'll see and feel his hunger for power & greed. I think the man sold his soul and it's sad he is in the position of making the most important decision in this nations history. If we look close enough, I'm sure we would find the numbers 666 somewhere on his body.
    Last edited: Sep 23, 2008
  8. patsfan13

    patsfan13 Hall of Fame Poster PatsFans.com Supporter

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    Have you ever seen me praise Paulson? Have you seen me endorse his plan?

    Bush tried on numerous occasions to warn about the problem and put in some reforms you guys blocked it. Paulson was very late to the party.
  9. PatriotsReign

    PatriotsReign On the Roster

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    What you're forgetting is that the secretary of the treasury told everyone not to do anything. Prior to him getting appointed, the economy was booming, so of course no one in congress was in a rush to pass sweeping changes.

    Look, I've already stated my position that this is non-partisan. You can play that game if you want, but I'm sticking to historical precedent. No one blamed Reagan for the savings & loan fiasco because it wasn't his fault. If Bush wanted so badly to do something, why wouldn't he have appointed a secretary of treasury who would get that done?

    It was HIS choice after all. He's the one who chose a former Wall Street investment guy who loved the loan trade game. That's how he made his fortune.
  10. IcyPatriot

    IcyPatriot ------------- PatsFans.com Supporter

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    I'll take a neutral position on Paulson's views for the interim because I would like to stick to the thread. Paulson was picked at the end of May ... fine. Bush still asked Congress 5 times after that to do something to fix the problem ... if Paulson had so much pull ... then why did Bush ask Congress 5 more times to help fix the problem?
  11. weswelker#83

    weswelker#83 Rookie

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  12. PatriotsReign

    PatriotsReign On the Roster

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    The end of May 2006. We also need to ask Wall Street why they basically cooked their books over the past 5 years. They could and should have kept their accounting legit, but they chose not.

    I don't want to hijack your thread, I just want to make sure we all know there's more than enough blame to go around.

    In my opinion, now is the time for us to pull together on common ground and hold our politicians accountable on this bailout. Let's make sure whatever gets done is in our best interests on all fronts.

    Remember, we are not the United States of America, Inc.
  13. Harry Boy

    Harry Boy Look Up, It's Amazing PatsFans.com Supporter

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    Get The Hated Bush
  14. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    I try to stay out of some of the economics discussion as I really do not understand it completely, but weren't the Republicans in control in 2001, 2002 and 2004 and did nothing??

    It seems that there is too much partisan blame on this whole mess, and there seems to be a focus on making it work differently.. there seems to be plenty of blame to spread around.
  15. PatriotsReign

    PatriotsReign On the Roster

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    That's not an opinion GJAJ15, that's a FACT.;)

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