PAULSON WANTED FULL AUTONOMY TO MAKE DECISIONS, READ SECTION 8 OF HIS PROPOSAL, WANTED NO RESTRICTIONS TO CEO BONUSES OR PAY.
NO RESTRICTIONS ON HIS POWERS OR DECISION MAKING ABILITY
AND NO REPRESUSSIONS TO HIS ACTIONS
WHEN ASKED ABOUT ALTERNATIVE AND SAFER METHODS, HE (PAULSON) REPEATEDLY SAID "THAT CONSTRAINTS OR PENALTIES WOULD DISCOURAGE PARTICIPATION IN THIS VOLUNTARY PROGRAM."
WHAT---COMPANIES, THAT ARE IN TROUBLE, WILL NOT TAKE THE HAND OUT IF THEY MUST PAY IT BACK, OR MUST GIVE AN EQUITY POSITION IN THE COMPANY, NO STOCK FOR THIS MONEY, OUR MONEY..
IF THEY WILL NOT PARTICPATE IN THIS PROGRAM DUE TO RESTRICTIONS AND REGUALTIONS ON CONDUCT....I SAY LET THEM FAIL...GO AT IT ON YOUR OWN.......FREE MARKETS BAABY..YOU ASKED FOR IT AND HERE YOU GOT IT RIGHT IN THE TEETH...YOUR OWN KIND ATE YOU ALIVE, AND YOU WERE NOT EVEN FINISHED EATING UP THE AMERICAN MIDDLE CLASSS
NOT HINT AT A RETURN ONT HE INVESTMENT OF TAXPAYER DOLLARS EITHER.
HE KEPT REPEATING THAT IT NEEDED TO BE DONE NOW, RIGHT NOW, FIGURE OUT THE LEGISLATION LATER.
GARBAGE, HE WILL NOT IMPLEMENT THIS THING TO THE BENEFIT OF ALL.
HE IS FORMER CEO OF GOLDMAN SACHS, HE JUST LEFT 3 TO 4 YEARS AGO
AND THEY STAND TO BENEFIT FROM THE BAILOUT AS WELL
HE WAS THERE IN THE PRIME OF THIS DEBACLE.
HIS EXCUSE IS HE DID NOT DEAL WITH THE REGULATORY ASPECT.
HIS GOAL SI TO RESTORE LIQUIDITY SO PEOPLE CAN EXTEND MORE CREDIT.
NO MENTION FO PEOPLE KEEPING THEIR HOMES AS A PRIORITY, MAYBE A GOOD MESSAGE, BUT NOT A PRIORITY.
HE SAYS TAXPAY DOLALRS NEED TO PURCHASE WORTHLESS PAPER, AT COST OR PREMIUM, PAPER THAT NO ONE CAN TELL US IS TIED TO ANYTHING AND IF IT IS, NO ONE KNOWS WHAT IT IS TIED TO.
SUPPOSEDLY REAL ESTATE, BUT WHERE IT IS, WHO IS IN TROUBLE, WHO WILL $700 BILLION ACTUALLY HELP OTHER THAN THE BALANCE SHEETS OF THE CORPORATIONS, THERE IS NO DETAIL, NO SUGGESTION, NO HINT AT ANY INTENTIONS IN THIS DIRECTION
I SAY LET THEM FAIL THEN BUY THE MORTGAGES FOR .25c ON THE DOLLAR
LIKE A SMART BUSINESS DOES
SAVE US ABOUT $450 BILLION IN THE PROCESS.....
FREE MARKETS BABY
NO ONE BUYS DEBT AT COST
NO ONE
ASK ANY COLLECTION AGENCY

I say enough is enough while middle class people struggle, the high and mighty rich bankers and CEO’s collect undeserved rewards for bankrupting their companies. They need to be put in jail as a lesson to anyone else.

How did this happen?

Much as I hate Bush he did try to warn us and so did McCain but they were ignored along with
Allen Greenspan’s Warning

The clear gravity of the situation pushed the legislation forward. Some might say the current mess couldn’t be foreseen, yet in 2005 Alan Greenspan told Congress how urgent it was for it to act in the clearest possible terms: If Fannie and Freddie “continue to grow, continue to have the low capital that they have, continue to engage in the dynamic hedging of their portfolios, which they need to do for interest rate risk aversion, they potentially create ever-growing potential systemic risk down the road,'’ he said. “We are placing the total financial system of the future at a substantial risk.'’

What happened next was extraordinary. For the first time in history, a serious Fannie and Freddie reform bill was passed by the Senate Banking Committee. The bill gave a regulator power to crack down, and would have required the companies to eliminate their investments in risky assets.

If that bill had become law, then the world today would be different. In 2005, 2006 and 2007, a blizzard of terrible mortgage paper fluttered out of the Fannie and Freddie clouds, burying many of our oldest and most venerable institutions. Without their checkbooks keeping the market liquid and buying up excess supply, the market would likely have not existed.

But the bill didn’t become law, for a simple reason: DEMOCRATS opposed it on a party-line vote in the committee, signaling that this would be a partisan issue. Republicans, tied in knots by the tight Democratic opposition, couldn’t even get the Senate to vote on the matter.

That such a reckless political stand could have been taken by the Democrats was obscene even then. Wallison wrote at the time: “It is a classic case of socializing the risk while privatizing the profit. The Democrats and the few Republicans who oppose portfolio limitations could not possibly do so if their constituents understood what they were doing.'’

Now that the collapse has occurred, the roadblock built by Senate DEMOCRATS in 2005 is unforgivable. Many who opposed the bill doubtlessly did so for honorable reasons. Fannie and Freddie provided mounds of materials defending their practices. Perhaps some found their propaganda convincing.

But we now know that many of the senators who protected Fannie and Freddie, including BARACK OBAMA, Hillary Clinton and Christopher Dodd, have received mind-boggling levels of financial support from them over the years.

Will “60 Minutes” do a Special on this?
Will TV investigage?
You know the answers…this mess goes back to the Clinton administration so expect zero coverage by the biased media. They are the spin-filters.
God bless the alternate “new media”. FOX