April 01, 2008

Hank Paulson, with a straight face: " I do not believe it is fair or accurate to blame our regulatory structure for the current market turmoil"

And then of course he announces a ton of new regulations to make sure this mess doesn't happen again. And he adds "housing remains by far the biggest downside risk to our economy.". Yes, Hank, it is. Why? BECAUSE THE FED SCREWED THE POOCH AND LET THE MORTGAGE INDUSTRY RUN UNREGULATED AND OUT OF CONTROL EVEN THOUGH THEY WERE RESPONSIBLE FOR REGULATING THEM!

He can give the Fed more powers to regulate, but if they don't do their f*cking jobs, it's just sweeping it all under the rug. I don't trust the Fed. The Fed is the enemy of the American people. And empowering them even more should scare everyone.

If Paulson wanted some credibility with this plan, he should have blamed the Fed directly, thrown Greenspan under the bus, and said he was cleaning ship. But that's not what he did.

Monkeys I tell ya. Monkeys. Ones that can't even get their story straight. Ones that won't take the blame. Ones that need to be shown the door.


Anonymous said...

We all know Paulson is a bloodsucking puppet of the elite. We're all being scammed and barring a popular revolution there's nothing we can do to stop these punk muthaf*ckers.

They know that Americans are too docile to do anything about it. They know Americans are totally dumbed down by the propaganda matrix FoxCNMSNBCBullshit networks.

What you gonna do about it Keith?

Anonymous said...

Have any of you read Ron Paul's "Pillars of Prosperity"? The dude was detailing exactly what would happen with the housing bubble back in 2001!!!

2001 bitches!!!

Go read the book if you haven't already.

Get a freakin education!

Anonymous said...

This plan was a *deregulation* plan that the Administration has had waiting in the wings for quite some time. The current financial crisis has given them a perfect opportunity to push it through.

Anonymous said...

I still don't think this happened by accident or because the Fed wasn't doing their job. Everything is proceeding as planned. North American Union by 2012.

Execute the guilty said...

Execute the guilty.

Start at the top.

Do It Now.

Metroplexual said...

All I have to say is read the latest Krugman piece in the NYT. This is just a shell game ala Dilbert.

Mammoth said...

Paulson sez:
"I do not believe it is fair or accurate to blame our regulatory structure for the current market turmoil"

Remember folks, here in America, it doesn't matter whether you win or lose, its how you lay the blame.

Anonymous said...

GS is spreading financial AIDS throughout the world via its financial engineering scams.

Its newly 'legalized' ability to borrow/steal federal funds will only lead to more 'unprotected' promiscuity with world markets.

Filthy bastards!

Anonymous said...

He's right. It's not the structure but the corrupt and incompetent regulators. You can have any laws or regulations you want, but if the regulators don't do their jobs, then it's all crap

Big Cheese said...

Did you hear the commentator at the end? "It will open up a huge barrel of worms."

Ummm, isn't it a CAN of worms or a Barrel of Monkeys (like the Fed)?

We are so screwed. We are so screwed. It's time to DUCK & COVER now everybody. Duck and Cover. This is not a drill.