Paulson says troubled assets will not...

Paulson says troubled assets will not be purchased

There are 10 comments on the story from Nov 12, 2008, titled Paulson says troubled assets will not 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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“Truth to Power!”

Since: Apr 07

Sierra Madre, CA

#1 Nov 12, 2008

Close the doors!

Let Obummer beg Congress to authorize the other $350B of the proposed $700B Bail Out.
Lance Winslow

United States

#2 Nov 12, 2008
$700 billion and they can't figure what to do with it!
This would be funny if it was somebody else's money.

“Reduce immigration levels”

Since: Dec 06

Kings Mountain, NC

#3 Nov 13, 2008
There is no other word to describe what has been happening in Washington, DC., for the past two and a half months. The so-called bail out of lending institutions and banks has turned into a free for all that is mind boggling, already running in the TRILLIONS with no end in sight. As the layers have been unfolding over the past few weeks, only someone in complete denial can say with a straight face that this unconstitutional looting of the people's labor has been anything but mass rape.

Elkhart, IN

#4 Nov 13, 2008
Paulson's balls dropped,he finally did the right thing. Now if he will quit his job he'll be a real man

Chicago Ridge, IL

#5 Nov 13, 2008
paulson is an azzhole. Watch fiat empire on google videos.

“Reduce immigration levels”

Since: Dec 06

Kings Mountain, NC

#6 Nov 14, 2008

Suppose that every day, ten men go out for beer and the bill for all ten comes to $100. If they paid their bill the way we pay our taxes, it
would go something like this:

The first four men (the poorest) would pay nothing.
The fifth would pay $1.
The sixth would pay $3.
The seventh would pay $7.
The eighth would pay $12.
The ninth would pay $18.
The tenth man (the richest) would pay $59.

So, that's what they decided to do.

The ten men drank in the bar every day and seemed quite happy with the arrangement, until one day, the owner threw them a curve.'Since
you are all such good customers,' he said,'I'm going to reduce the cost of your daily beer by $20.'Drinks for the ten now cost just $80.

The group still wanted to pay their bill the way we pay our taxes so the first four men were unaffected. They would still drink for free.
But what about the other six men - the paying customers? How could they divide the $20 windfall so that everyone would get his 'fair
They realized that $20 divided by six is $3.33. But if they subtracted that from everybody's share, then the fifth man and the sixth man
would each end up being paid to drink his beer. So, the bar owner suggested that it would be fair to reduce each man's bill by roughly the same amount, and he proceeded to work out the amounts each should pay.

And so:

The fifth man, like the first four, now paid nothing (100% savings).
The sixth now paid $2 instead of $3 (33%savings).
The seventh now pay $5 instead of $7 (28%savings).
The eighth now paid $9 instead of $12 (25% savings).
The ninth now paid $14 instead of $18 (22% savings).
The tenth now paid $49 instead of $59 (16% savings).
Each of the six was better off than before. And the first four continued to drink for free. But once outside the restaurant, the men
began to compare their savings.

'I only got a dollar out of the $20,'declared the sixth man. He pointed to the tenth man,' but he got $10!'

'Yeah, that's right,' exclaimed the fifth man.'I only saved a dollar too. It's unfair that he got ten times more than I!'

'That's true!!' shouted the seventh man.'Why should he get $10 back when I got only two? The wealthy get all the breaks!'

'Wait a minute,' yelled the first four men in unison.'We didn't get
anything at all. The system exploits the poor!'

The nine men surrounded the tenth and beat him up.

The next night the tenth man didn't show up for drinks, so the nine sat down and had beers without him. But when it came time to pay the
bill, they discovered something important. They didn't have enough money between all of them for even half of the bill!

And that, boys and girls, journalists and college professors, is how our tax system works. The people who pay the highest taxes get the most benefit from a tax reduction. Tax them too much, attack them for being wealthy, and they just may not show up anymore. In fact, they
might start drinking overseas where the atmosphere is somewhat friendlier.

> David R. Kamerschen, Ph.D.
> Professor of Economics
> University of Georgia

For those who understand, no explanation is needed. For those who do not understand, no explanation is possible


Since: Jul 11

Location hidden

#7 Aug 26, 2013
What? he did the exact opposite of what he said!

Since: Jul 11

Location hidden

#8 Aug 26, 2013
This is a boldface lie!

London, UK

#10 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

#11 Mar 27, 2014
Gertie Green was here

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