Paulson, Bush and the Grifters - The Manufacturing of a Crisis
The plan of throwing $700 billion at a problem cannot possibly work. What's worse is the structured $700 billion is a mere down payment.
Anthony M. Freed | September 25, 2008
“Paulson announces coordinated effort to reduce mortgage foreclosures” read the headline way back on October 10, 2007, when Treasury Secretary Hank Paulson unveiled his first - and much less costly - plan to save the world by “suggesting” to lenders that they follow a series of provisions that would prevent the tsunami of foreclosures that had began in earnest in 2006.
The official name of the program was Hope Now. What? You have never heard of it before? Well that is because the program was introduced with a complete absence of alacrity, especially in light of this weeks bombshell announcement that we are on the hook for from anywhere between $700 Billion (Fed’s guess) and $6 Trillion (outside estimates with many more factors).
The program is ridiculously simple to adhere to, and one would expect that if we were truly facing a global economic meltdown of a magnitude that we have never before imagined in the history of human kind, a few things about the program would have to be true:
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Anthony M. Freed | September 25, 2008
“Paulson announces coordinated effort to reduce mortgage foreclosures” read the headline way back on October 10, 2007, when Treasury Secretary Hank Paulson unveiled his first - and much less costly - plan to save the world by “suggesting” to lenders that they follow a series of provisions that would prevent the tsunami of foreclosures that had began in earnest in 2006.
The official name of the program was Hope Now. What? You have never heard of it before? Well that is because the program was introduced with a complete absence of alacrity, especially in light of this weeks bombshell announcement that we are on the hook for from anywhere between $700 Billion (Fed’s guess) and $6 Trillion (outside estimates with many more factors).
The program is ridiculously simple to adhere to, and one would expect that if we were truly facing a global economic meltdown of a magnitude that we have never before imagined in the history of human kind, a few things about the program would have to be true:
--MORE--