Paulson: Troubled assets won't be purchased

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

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both parties are in on it

United States

#22 Nov 13, 2008
People, both parties voted en mass for the bailouts.
Now we have this
"Fed refuses to identify recipients of loans"

Wednesday, November 12, 2008
By Mark Pittman, Bob Ivry and Alison Fitzgerald, Bloomberg News
The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system.

Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where the money is going or what securities the banks are pledging in return.
Don't you get it yet? Both parties are responsible. If we are going to save this nation we must admit this and move on to address the issues.
We have an 'economic coup' going on in the USA.

$ 2 TRILLION in extra programs not needing approval by Congress yet tax payers are footing the bill. Translation foreign nations are covering all the debt. What does that mean? Think about it.

Where are the screams from Congress members of either party about it? Where is the media? They are following Paulson, fast dance steps, saying the bailout money is going here... no wait it needs to go there... it will change... that is nothing more than a diversion people.

Meanwhile $2 trillion... is being ignored...put the pieces together and let everyone you contact know what is going on. Congress NEVER does anything for us the citizens, unless we raise H*11 with them.. please contact them and tell both parties we want Paulson fired! Stop the 'programs'.

Since: Mar 08

Trenton, KY

#23 Nov 13, 2008
both parties are in on it wrote:
People, both parties voted en mass for the bailouts.
Have you stopped to consider for a moment that if they did not vote yes on the bail out that maybe these banker people could burn these politicians careers to the ground?

London, UK

#24 Mar 26, 2014
This is the first time I had ever applied for a loan. I couldn't have asked for anything more from the staff that answered any of my questions to the application process. Once this had all been completed the money was transferred quickly into my account. I will definitely be recommending 911PDAY .COM ( ) too my friends and family.

Since: Jul 11

Location hidden

#25 Jun 21, 2014
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.
No SirPrize here

Since: Jul 11

Location hidden

#26 Feb 5, 2015
Lance Winslow wrote:
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.
Where are all of these posters

Since: Jul 11

Location hidden

#27 Feb 5, 2015
The_Captain wrote:
So here's the switch part of the Bait and Switch!
Lol, Spot on

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