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Paulson speaks about rescue plan
Denver News.Net Tuesday 30th September, 2008
US Treasury Secretary Henry Paulson has said a rescue plan for the US financial system is needed as soon as possible, and is too important to fail.
After the Dow Jones Industrial Average closed down almost 7 percent, falling 777 points, Paulson told reporters: "We've got much work to do and this is much too important to simply let fail."
Paulson had just met US President George W Bush to discuss the House of Representatives' vote against the US$700 billion rescue plan.
Paulson, who had worked feverishly for days with Democratic and Republican congressional leaders to craft a compromise plan, said he would meet them again to develop a plan that works for all parties.
He said: "We've experienced significant turmoil in our financial markets in the last few days, including the collapse of Washington Mutual and Wachovia and the failure of two major financial institutions in Europe."
"Markets around the world are under stress and that reduces the availability of credit that businesses across America depend on to meet payroll and to purchase inventories," he said.
Paulson said the US banking system was holding up well considering the pressures, but he was committed to using all his powers to protect the economy and markets.
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Comments on this story
` ~galljdaj+ 09-30-08, 07:49 AM |
Paulson speaks about rescue plan
Well if your truly interested in FIXING the 'problem', mr. paulson, Request an Immediate Assessment against every 'Corporation' Licensed to do Business in the USA! Make it a 10% investment in doing business in the USA! Make it part of there License Fee, Retroactive!
Without the immediate payment, they loose there license, and it will mean jail time for fraud, as to do business under the law, requires a License from the People! Without it, they are engaged in defrauding the Public!
You will have your bailout monies! And you will be encouraging good business practices! Responsibility!
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Anonymous 09-30-08, 10:00 AM |
Want to fix it?
Fire all the people whop stimied past efforts to address the problem!
Bill Clinton screamed to the hills about the banking industry!
John McCain did as well.
So did our current President George Bush!
So exactly who was responsible for not fixing this mess when it was brought up over 17 times this year alone?
http://www.youtube.com/watch?v=_MGT_cSi7Rs
This video is a sobering reality that our government has failed us yet again.
All these people need to be fired.
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Anonymous 09-30-08, 10:13 AM |
Again we see the name Acorn tied to mismanagement and corruption!
http://www.consumersrightsleague.org/UploadedFiles/ACORN_AHC_Report.pdf
Who is ACORN tied to!!!!
George Soros and his puppet Obama!
George Soros has made billions screwing up countries banking systems and money supplies then suckling off the wealth!
In Britain, Black Wednesday (September 16, 1992) is known as the day that speculators broke the pound. They didn’t actually break it, but they forced the British government to pull it from the European Exchange Rate Mechanism (ERM). Joining the ERM was part of Britain’s effort to help along the unification of the European economies. However, in the imperialistic style of old, she had tried to stack the deck.
Although it stood apart from European currencies, the British pound had shadowed the German mark in the period leading up to the 1990s. Unfortunately, the desire to “keep up with the Joneses” left Britain with low interest rates and high inflation. Britain entered the ERM with the express desire to keep its currency above 2.7 marks to the pound. This was fundamentally unsound because Britain’s inflation rate was many times that of Germany’s. (Keep reading about this in Stop Keeping Up With The Joneses - They’re Broke.)
Compounding the underlying problems inherent in the pound’s inclusion into the ERM was the economic strain of reunification that Germany found itself under, which put pressure on the mark as the core currency for the ERM. The drive for European unification also hit bumps during the passage of the Maastricht Treaty, which was meant to bring about the euro. Speculators began to eye the ERM and wondered how long fixed exchange rates could fight natural market forces. Spotting the writing on the wall, Britain upped its interest rates to the teens to attract people to the pound, but speculators, George Soros among them, began heavy shorting of the currency.
The British government gave in and withdrew from the ERM as it became clear that it was losing billions trying to buoy its currency artificially. Although it was a bitter pill to swallow, the pound came back stronger because the excess interest and high inflation were forced out of the British economy following the beating. Soros pocketed $1 billion on the deal and cemented his reputation as the premier currency speculator in the world.
George Soros his puppets and bought Politicians may just be public enemy number one!
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kawahchan 09-30-08, 11:48 AM |
228 : 205 means American people distrust Barack Obama or Obama-Bush (ObBush).
Either my district Congressman (D) Pete Stark is facing re-election has voted down the Bush’s $700 billion bailout bill. Bush’s 700 billion bailout bill is a poison pill for Republican Congress & Senate to swallow. Grandma Speaker Nancy Pelosi’s one mouth saying to support the bill, her another mouth helping Obama to attack Republican leadership oppose against the bill, but overall American taxpayers AGAINST to pay for the $700 billion bailout bill, however some pollers misleading American folks' contradiction blaming to the low-tax McCAIN’s economic strategy. Sen. JOHN McCAIN in Iowa : “Obama and Congressional Democrats infused unnecessary partisanship in the process, now is not time to fix the blame, it’s time to fix the problem." Sen. McCAIN and his fellow Republican colleagues should understand and realize several puzzles over the Bush’s $700 billion bailout:
1) it is not a quick fix solution before Bush administration leave White House. The federal buyout of Main Street’s foreclosure are as the “inventory”, there is an “idle period”.
2) the Bush’s $700 billion dollar bailout is considered as the “future money” which is NOT exist yet, the “future money” is still need to collecting tax from every individual American taxpayer in the coming years.
3) JOHN McCAIN’s low-tax economic package allowed Corporate (windfall) taxcut and lower Capital Gain tax, and $5,000 taxcut to each American family. Optionally, will the US Congress & Senate to let the individual taxpayers to deposit this $5,000 taxcut to the 5,000 shares of US Government warranted, FDIC secured “Money Market Fund” to save in their 401K account. Allow $5,000 taxcut to buy n-shares of Resolution Trust’s High-Yield mutual fund to install in Bank of America’s “Master Relationship (brokerage) Account (MRA), or Wells Fargo Bank’s PMA (brokerage) account (or other financial firms) to collect the monthly dividend. McCAIN’s bailout package is MORE flexible response and MORE efficiency than Bush’s $700 billion bailout.
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` ~galljdaj+ 09-30-08, 04:23 PM |
Posts 11:48 am, 10:13 am, &, 10:00am look like...
... they were written by the same person, and with a political agend. Here’s why I say this:
First, why or how come this person is still asking how it happened who caused the happening and whose not helping. All of those questions are not intended nor will the produce a solution any more. The answers are already clear.
Second, none of the three posts states the two choices, nor picks any combination of the two concepts as a resolution. The poster is still not interested in a resolution!
It is clear the People have spoken, 'You' are Our Government! You do not put this invoice into Our Expense Account!
The Politicians, i.e., the Leaders of Our Nation chose the People to Pay. With the no in hand, the alternative is the Corporations, those at fault for the Failure, now must pay!
Making those responsible pay should be the focus of the poster, instead we have 'blames' and political stresses!
Demanding Our Government do OUR BUSINESS, especially the funding of the FIX come from those that were the guardians and those that claimed the need for the trickle down economy!
The demands should be that each and every elected member of Our Government stop the lies, and open the Government up to the light of day! Honest and open exchanges of Policy! No more hidden agendas! We have a clear example of where such failures have talen the Nation! Its time to demand correction! Not point fingers!
The answers are very clear!
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Anonymous 09-30-08, 04:57 PM |
Posters 10:00 and 10:13
Are me.
Kawachans post looks nothing like mine.
The simple question to ask you is how can you fix a problem people have denied is occuring until it hit the fan!
Worse the party politics and finger pointing have reached an all time high!
I see over and over how leading Democrats directly responsible for monkey wrenching any attempts to address the issue pointing the finger at others and no one is showing the proof!
For ten years people have been screaming bloody murder about freddie and Fannie even Bill Clinton attempted to address the issue and he even admitted the DNC was blocking attempts to fix the issue when he was President!
No one listened and our lawmakers obfuscated and bloviated their way out of it till now.
Now they want the US tax payer to front the cost and suffer for their mistakes yet again.
Worse Polisi is talking about accountability and oversight yet fought any attempts at it this may finally be the straw that causes the average American to wake up!
Before you can fix the issue those who engineered or covered up the problem MUST BE HELD ACCOUNTABLE or the same problem will just occur again.
My posts detailed the obvious that most Americans are not informed of or the Maon stream media refuses to cover.
Sorry that showing PROOF that some in the DNC are lying about the real causes has spoiled your propaganda stream against Bush and the GOP.
The conflicts of interest are appaulling from all involved in both parties Congress and the Senate they should all be fired.
Any attempts to rob more money to line pockets should be met with phone calls to all senators and Congressmen!
Let the guilty parties and chips fall where they may and those proven to be gaining from this be tried and jailed.
The culture of corruption in Washington has reached epidemic proportions.
I for one am not looking forward to the $5.00+ a gallon gas after this farce of an election!
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` ~galljdaj+ 09-30-08, 06:45 PM |
My point was, your just making noise. Noise is not a help any longer.
You need to focus on the regrouping! Regrouping is exactly what those that want to be bailed out by the Peoples Dollars are doing!
The Invoice needs to go or be paid for by corporate investment! They caused the problem, they took too much profit!
To fix the Problem honestly and fairly, those that profited need to reinvest! They have destroyed jobs! No one else! Greed for ever increasing profits began by cutting workers, then workers salaries, and now they want workers' monies for their investments!
It needs to be stopped at their regrouping! If we wait, because we fail to stay 'united' congress will not do Our Business!
Congress must be forced by the People!
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` ~galljdaj+ 09-30-08, 07:06 PM |
Strategy 101
If they want our money, and they do, our cost has to be higher than theirs, or congress will give them Our Monies!
We need to demand that corporations Invest as much money as we do! Plus, and I mean plus! executive compensation must be cut to 50% of 2006 ending compensations! And those monies be paid to the US TAXPAYERS. nO EXCEPTIONS AND NO TAX DEDUCTIONS! It is investment monies! Added to the networth of the Corporation!
Now the cost is high enough! The Corporations will raise the money by way of assessing them selves! 10% OF THE PAR VALUE of their stock!
Either way the recovery needs to begin!
The People will gain, because they forced their employees to do their Business!
The loosers will be identified as you would come election time! Take care of Business! Our Business!
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