Paulson: Troubled assets won't be pur...

Paulson: Troubled assets won't be purchased

There are 26 comments on the www.msnbc.msn.com story from Nov 12, 2008, titled Paulson: Troubled assets won't be purchased. In it, www.msnbc.msn.com reports that:

The government has abandoned the original centerpiece of its $700 billion rescue effort for the financial system and will not use the money to purchase troubled bank assets.

Join the discussion below, or Read more at www.msnbc.msn.com.

First Prev
of 2
Next Last
Devin

United States

#1 Nov 12, 2008
Paulson and Bush should be tried for TREASON!!!

I knew this was going to happen, those banks and automakers could get the money from the Federal Reserve there should have never been a law, no language in a bill nothing.

700 Billion isn't the issue, it's the authority that Government has over the Financial Industry now that is the problem. This law may have to be repealed immediatly.
Lance Winslow

Lake Hughes, CA

#2 Nov 12, 2008
Bush and Paulson have decided to shift the stimulus to bolster consumer lending so that we all can get into debt as much as the federal government.

Since: Dec 07

Atlanta

#3 Nov 12, 2008
So here's the switch part of the Bait and Switch!
jeff

Fitchburg, MA

#4 Nov 12, 2008
Democrats, on the other hand, are eager to loot taxpayers -- and reward unions and domestic automakers which made choices that benefited them handsomely in the short term, at the expense of long term competitiveness.
Jones

“It's about the American People”

Since: Jun 07

Flushing, NY

#6 Nov 12, 2008
The Bush Administration and treasure secretary Paulson were right to change the way the bailout plan works and avoiding buying the 10 million houses with troubled bad mortgages of ‘the poor’ that were pushed by Acorn and their community organizer and lawyer Barack Hussein Obama.
Paulson said that his first priority was to solve the credit problem and enable loans including loans to corporations, Auto and college loans by helping banks and financial institutions.
Paulson said that 290 billion dollars were used to purchased bank stocks and help insurance and credit card companies like American Express.
Clearly, Paulson is right not spend the hardworking Americans money on US automakers Unions pensions and healthcare outrages deals that will be dealt by the liberal ruled US Congress.
Evidently, the source of the major banks meltdown was the Democratic Party “owned” Fannie Mae and Freddie Mac banks that were used by the democratic party to finance their own interests and buy the 97% or the Black votes.
The meltdown that caused huge damage to each and every American happened when corrupt Dems including Bernie Frank, Rahm Emanuel, Jamie Gurilac, Chris Dodd and Barack Hussein Obama fraudulently sold the ‘bad mortgages’ that were obtain by the Acorn gangs as ‘AAA rated securities’ to US and worldwide banks for more than three trillion dollars.
It is time to bring these corrupt democrats to court only to prevent further abuse of the American people’s money by the liberal Dems under Barack Hussein Obama, Pelosi and Reid.

“GET TO THE CHOPPA!!!”

Since: Apr 08

Still there......

#7 Nov 12, 2008
Jones wrote:
The Bush Administration and treasure secretary Paulson were right to change the way the bailout plan works and avoiding buying the 10 million houses with troubled bad mortgages of ‘the poor’ that were pushed by Acorn and their community organizer and lawyer Barack Hussein Obama.
Paulson said that his first priority was to solve the credit problem and enable loans including loans to corporations, Auto and college loans by helping banks and financial institutions.
Paulson said that 290 billion dollars were used to purchased bank stocks and help insurance and credit card companies like American Express.
Clearly, Paulson is right not spend the hardworking Americans money on US automakers Unions pensions and healthcare outrages deals that will be dealt by the liberal ruled US Congress.
Evidently, the source of the major banks meltdown was the Democratic Party “owned” Fannie Mae and Freddie Mac banks that were used by the democratic party to finance their own interests and buy the 97% or the Black votes.
The meltdown that caused huge damage to each and every American happened when corrupt Dems including Bernie Frank, Rahm Emanuel, Jamie Gurilac, Chris Dodd and Barack Hussein Obama fraudulently sold the ‘bad mortgages’ that were obtain by the Acorn gangs as ‘AAA rated securities’ to US and worldwide banks for more than three trillion dollars.
It is time to bring these corrupt democrats to court only to prevent further abuse of the American people’s money by the liberal Dems under Barack Hussein Obama, Pelosi and Reid.
As many times as the American people's throats have been slashed now, and YOU still haven't figured out who's holding the knife.... You should do a little research online and find somewhere to find some brain cells, my friend.

Since: Mar 08

Pittsburgh, PA

#8 Nov 12, 2008
Devin wrote:
Paulson and Bush should be tried for TREASON!!!
I hear that as soon as Obama takes the oath of office Bush will be whisked out of the country.

Since: Mar 08

Pittsburgh, PA

#9 Nov 12, 2008
What a great idea for our government to change its mind about buying worthless stock in these banks.

They should bury these sobs and be done with the Federal Reserve forever.

The more bailout money they are given the more they are going to need, it vanishes into a black hole.

“GET TO THE CHOPPA!!!”

Since: Apr 08

Still there......

#10 Nov 12, 2008
jeff wrote:
Democrats, on the other hand, are eager to loot taxpayers -- and reward unions and domestic automakers which made choices that benefited them handsomely in the short term, at the expense of long term competitiveness.
How much more backwards can one person see things? Unions have members that are employed, hence they pay taxes. Unions fight for the advancement of their workers, against those in upper management, which have made the "choices" you speak of... See, you're a democrat and didn't even know it.

Since: Nov 08

Mission Hills, CA

#11 Nov 12, 2008
Bail outs won’t work.

Bailing out a company who can not get their act together won’t work. They just will burn our tax payer money and come back with a tin cup for more.

What will work:

Multinational companies are able to raise cash and save themselves by spinning off divisions. A division spun off could then be offered to the public raising money. The sum of the parts will be greater then the whole. Billions can be self generated by these companies. Brands can be spun off. As an example General Motors could spin off their Cadillac division, put in new management and bring the new company public. The list of possibilities goes on and on. The treasure in the same companies coming to tax payers, hat in hand that can be mined. Of course that would dilute stockholder equity which is what equity holders are trying to avoid.

www.complainary.com
Cato

Richmond, VA

#12 Nov 12, 2008
Don't send your complaints to the office of Barak OBama or Nancy Pelosi. They are pushing for even more corporate wellfare. Funny how that issue never came up during the presidential debates; probably because McCain, like OBama, voted for the first bailout. Also missing from the debates were questions regarding Supreme Court nominiations. This is why we need a third political party with a strong candidate. We also need to stack the House and Senate with people who will do their jobs. The primary function of the House and Senate is to balance the executive power of the White House. There is absolutely nothing wrong with voting NO, if that vote is in line with the Constitution and the will of your constituents. This "I'll scratch your back if you'll scratch mine" environment has brought us war and debt and the erosion of our Constitution.
Lance Winslow

Alameda, CA

#13 Nov 12, 2008
In Real Time wrote:
<quoted text>
I hear that as soon as Obama takes the oath of office Bush will be whisked out of the country.
To the Hague?
Please, please, whisk him to The Hague.
Tngz

Montréal, Canada

#14 Nov 12, 2008
If only home mortgages are concerned, they should be bought at reasonably assessed prices such that those houses can be part of a Federal Housing Bank for rent or for resales. The principle is that no citizens be put on street or hard-treated .

But mortgages might also include industrial facilities, which might contain outdated processes as a result of new technologies applications and world competitions from other countries. It is no longer a question of cash but of assessment of each facility's perspective.

The most recommended measures are to prepare civil plans to help families and individuals to cope with unemployment conditions with guaranteed living payments and essential services until rational solutions can be found.

The theory that wealth comes almost from the wealthy class does not stand since day one it was professed . Why a billionnaire is billionnaire ? Because there is a stable market of millions and millions of consumers-users-citizens and in an advanced techno society, most of them are educated and can learn to do and run things. By mechanical cloning of a prototype into millions and millions of commodity products for the market, a successful entrepreneur makes extra billions of dollars beyond the real worth of the individual, comparatively speaking with other individuals,i.e. a chief engineer who designs a product and produces it millions and millions units might only earn $250,000/year while titled owners might make billions and billions of dollars. Extravagances being tolerated, medium agents of the market are subject to waves of turmoils by other sources of influence plays,- not talking about disinterested ordinary citizens of all lifewalks. Thus, social measures are evidently justifiable to protect the majority of the population before any intervention to save over-wealths just for their sake !

Jones

“It's about the American People”

Since: Jun 07

Flushing, NY

#15 Nov 12, 2008
mike1975 wrote:
<quoted text>
As many times as the American people's throats have been slashed now, and YOU still haven't figured out who's holding the knife.... You should do a little research online and find somewhere to find some brain cells, my friend.
You are wrong and have a lot of Chutzpa to lie to your teeth. The corrupt Unions are integral part of the Democratic Party and they suck corporations to death forcing them to pay pension and heath care to their retirees and their families for lifetime, which amount to more than million dollars per retiree during average twenty-two years of retirement.
Now the Unions and their patrons the liberal Democratic Party abuse the American taxpayers money and try to force the American people who do not have any pension and do not have free healthcare to pay for the Unions outrages deals which sums to more than a million dollar for each retiree.
The American people need to stand up to the Democratic party owned Unions of automakers, teachers, bus drivers that suck the hardworking American poor and the middle class that do not have any outrages benefits like the Unions employees whatsoever.
Enough is enough with corruption of the immoral liberal Dem’s Unions that shamelessly suck the money of hardworking American poor and the Middle Class with their lies, deceit, and Chutzpa.

Oiy Veh

Aledo, IL

#16 Nov 12, 2008
Now that they've taken care of their zionist banking friends, they are going a differant route.

“AVAUNCEZ!!”

Since: Aug 07

Eldora Iowa

#17 Nov 12, 2008
Please correct me if I'm wrong but didn't Barney Frank and the rest of the banking commitee agree with Paulson and the bush administration? I heard Barney frothing at the mouth today, saying that the treasury was not doing what it was supposed to do, idiot,(not you, Barney), he and every other dem gave the treasury cart blanche to do what they want to do, now they are, and the dems are mad. Why would the government want to own worthless paper anyway? Worst idea in the world, I'm glad treasurey got smart.
Devin wrote:
Paulson and Bush should be tried for TREASON!!!
I knew this was going to happen, those banks and automakers could get the money from the Federal Reserve there should have never been a law, no language in a bill nothing.
700 Billion isn't the issue, it's the authority that Government has over the Financial Industry now that is the problem. This law may have to be repealed immediatly.
Ghost Dog

Waterloo, IA

#18 Nov 12, 2008
Same thing Bush did with invading Iraq, spread FEAR and feed disinformation while demanding a quick decision, "we have to have the money now or the whole economy will collapse, wah, wah, wah"! It was all a scam to save Goldman Sachs and Morgan Stanley, then use the money to increase their positions while paying bonuses to executives. Golman Sachs set aside $6.8 Billion of the money for bonuses and Morgan Stanley set aside $6.2 Billion, all the while using the rest to buy up banks, not bad paper! Scam, scam, scam!
jeff

Fitchburg, MA

#19 Nov 13, 2008
mike1975 wrote:
<quoted text>
How much more backwards can one person see things? Unions have members that are employed, hence they pay taxes. Unions fight for the advancement of their workers, against those in upper management, which have made the "choices" you speak of... See, you're a democrat and didn't even know it.
Democrats big goverment is to TAX AND SPEND, BORROW AND SPEND, I am far from a democrat
albe a horses petootie

Victoria, Canada

#20 Nov 13, 2008
Not a bad investment for the ROI ,lobby reports 100 million to PAC's and BUSH from 2001 to 2007, in return CC companies got a no bankrupt on cc users law . And now billions back from the treasury.
Did any of the mortgages actually represent equity mortgages that paid off cc's? HMMMM.
Since an individual couldn't clear off those CC balances with bankruptcy.
Secret Service

Mansfield, OH

#21 Nov 13, 2008
Bush again... lies to the US about the 700B bailout package..!!

..Time to seriously... get rid of the B@$T@RD!!!!

Tell me when this thread is updated:

Subscribe Now Add to my Tracker
First Prev
of 2
Next Last

Add your comments below

Characters left: 4000

Please note by submitting this form you acknowledge that you have read the Terms of Service and the comment you are posting is in compliance with such terms. Be polite. Inappropriate posts may be removed by the moderator. Send us your feedback.

Personal Finance Discussions

Title Updated Last By Comments
News Shutdown divides services into essential and no... 1 hr RustyS 10
News If Donald Trump Was President, Here's What Woul... (Oct '15) 23 hr spud 16,245
News Government shutdown: What would close; would yo... Fri Fake Dem Legislators 1
News Toronto proposes 10 per cent cap on business-ta... Fri Tory must GO 1
News Small-business resources Fri NOISY FART 5
News Solutions for Americans still struggling to sav... Fri lilian 2
News Home Front: Loan prepayment penalty angers borr... (Jul '08) Fri Blueyss 2
More from around the web