Comments on: FLASHBACK: Six Months Ago, Paulson Said ‘Our Banks And Investment Banks Are Strong’ http://wonkroom.thinkprogress.org/2008/09/22/paulson-unfettered/ Thu, 26 Nov 2009 16:42:01 -0500 http://wordpress.org/?v=2.8.5 hourly 1 By: Chuck Feney http://wonkroom.thinkprogress.org/2008/09/22/paulson-unfettered/comment-page-1/#comment-2442 Chuck Feney Mon, 22 Sep 2008 19:26:25 +0000 http://thinkprogress.org/wonkroom/2008/09/22/paulson-unfettered/#comment-2442 Why can't the bushies use some of their faith-based reality to overcome our fact-based financial reality. Or, failing that, Bush himself should invest the balance of his 2004 election political capital; or, did he lose it all in his fight to privatize social security in the stock market? Why can’t the bushies use some of their faith-based reality to overcome our fact-based financial reality. Or, failing that, Bush himself should invest the balance of his 2004 election political capital; or, did he lose it all in his fight to privatize social security in the stock market?

]]> By: stateofthedivision http://wonkroom.thinkprogress.org/2008/09/22/paulson-unfettered/comment-page-1/#comment-2436 stateofthedivision Mon, 22 Sep 2008 16:16:03 +0000 http://thinkprogress.org/wonkroom/2008/09/22/paulson-unfettered/#comment-2436 Volatile credit derivatives went the wrong way in the last six months, but got wild this past week. Unregulated products from unregulated investment banks led to their precipitious downfall, not poor people defaulting on mortgages. <em>The credit default swaps are extremely volatile, with the result that their market value and their liquidity may vary dramatically either up or down in short periods, and their ultimate value will therefore only be known upon their disposition.</em> Soaring credit default swaps led to the choke down in credit. The SEC is investigating. George Bush and Hank Paulson could buy these Wall Street Mafia protection like instruments as they're "mortgage related securities." Oh, and they may use your tax money! Volatile credit derivatives went the wrong way in the last six months, but got wild this past week.

Unregulated products from unregulated investment banks led to their precipitious downfall, not poor people defaulting on mortgages.

The credit default swaps are extremely volatile, with the result that their market value and their liquidity may vary dramatically either up or down in short periods, and their ultimate value will therefore only be known upon their disposition.

Soaring credit default swaps led to the choke down in credit. The SEC is investigating. George Bush and Hank Paulson could buy these Wall Street Mafia protection like instruments as they’re “mortgage related securities.” Oh, and they may use your tax money!

]]> By: Bushie http://wonkroom.thinkprogress.org/2008/09/22/paulson-unfettered/comment-page-1/#comment-2434 Bushie Mon, 22 Sep 2008 16:10:34 +0000 http://thinkprogress.org/wonkroom/2008/09/22/paulson-unfettered/#comment-2434 An "oversight mechanism" is essential, but what good will it do if the oversight is done by a Congress in the pay of those the oversight is aimed at? A new regulatory agency, or an existing agency blows with the political wind, as the heads are political appointees. Even bipartisan selection just anoints political hacks more interesting in status quo and lining their pockets. This crisis is another indicator on how broken and corrupt our political system is and that representative government, as practiced today doesn't work for the citizen! An “oversight mechanism” is essential, but what good will it do if the oversight is done by a Congress in the pay of those the oversight is aimed at? A new regulatory agency, or an existing agency blows with the political wind, as the heads are political appointees. Even bipartisan selection just anoints political hacks more interesting in status quo and lining their pockets.

This crisis is another indicator on how broken and corrupt our political system is and that representative government, as practiced today doesn’t work for the citizen!

]]> By: mjvpi http://wonkroom.thinkprogress.org/2008/09/22/paulson-unfettered/comment-page-1/#comment-2432 mjvpi Mon, 22 Sep 2008 16:01:29 +0000 http://thinkprogress.org/wonkroom/2008/09/22/paulson-unfettered/#comment-2432 Can anyone come up with one, just one, area where the Bush administration has been knowledgeable, and ahead of the historical curve in effecting a timely solution? (!) Can anyone come up with one, just one, area where the Bush administration has been knowledgeable, and ahead of the historical curve in effecting a timely solution? (!)

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