Bush this morning ...:
(circa) "...these steps have been carefully planned."
Carefully planned? Sounds like something someone blurted out, after raising their hand ...
WHY DID PAULSON DO IT? 'WE CAN BE HEROES'
Here's the Paulson conundrum.
If The System is really in trouble - I mean seriously in trouble, like avoiding Great Depression II, then giving $20 billion to mega banks and $10 billion to investment banks is ... peanuts.
If the system needs only a little capital or no capital at all, having worked through the problems-to-date already, then Paulson looks like a hero.
Update: Paulson confirms - "we are giving money only to healthy banks". (it's embarrassing for him, without explnation).
Tuesday, October 14, 2008
We Can Be Heros
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