Friday, November 14, 2008

Closer To The Truth


"We have in many ways humiliated ourselves as a nation with some of the problems that have taken place here." - Treasury Secretary Henry Paulson, November 14th, 2008, CNBC interview on the first TARP failure.

6 comments :

patient renter said...

As Calculated Risk said, speak for yourself Paulson.

Max said...

I'm actually surprised at how quickly the first TARP attempt blew up. It really failed the day Paulson had to force the banks to take the TARP money, but they needed another two weeks of push-back and random companies asking for money before declaring defeat.

The moral hazard aftereffects of the first ~$300 billion will echo around the economy for another month or so, and then we'll be back to square one again. Just a lot poorer.

Darth Toll said...

Instead Hank should say,

"The pigmen bankster rats (myself included) have been exposed as the fraudulent vampires and leeches that we are."

Buying Time said...

Whocoodanone (to steal a CR phrase)....seems the American people, who flooded their representatives with pleas to reject the TARP, actually knew what they were talking about !

Anonymous said...

Leadership void..


Sippn

Bryan said...

Moving from a republic to an empire is never easy, fast, or without upheaval. Eventually, Caesar will show up and save us...