I listened to this interview yesterday with Congressional Oversight Panel director Elizabeth Warren on NPR:
http://www.npr.org/templates/story/stor … =101611260
There's also a link there to the COP report on U.S. foreclosures--a really disturbing document worth reading.
Anywhoo, Warren said when she asked Paulson for information on where the bank bailout funds were going he sent her a letter about a paragraph long saying he was buying up toxic assets dollar for dollar from various banks, the end. But when COP investigated it turned out he was buying them at prices so low it amounted to just giving money to the banks. Some got more money than others--Citi for example.
She says in the interview that the lying is what is troublesome and I agree. There's a certain contempt for taxpayers in the way this has all been done--it's not even disguised all that much.
She also says right now foreclosures are so bad and getting worse so fast that foreclosure alone could tank the whole economy, and it won't take that long either.
I wish we could get criminal charges brought against some of these guys.
Another idiot I honestly do not believe that there is any honesty in our system whatsoever.
by KKalmes 7 years ago
I'd really appreciate some hub writing insights... my basic categories are; political issues, social issues, environmental issues, fiction, political satire, and some entertainment thrown in when warranted.Thanx in advance for consideration...
by haroldwilson1985 8 years ago
Should we(the people) create a investigating oversight committee for our politicians?Should we "the people" create a oversight committee that will keep our politicians clean? Every politician accepts bribe and lobby money, so what can we really do to get our political system(politicians)...
by pgrundy 9 years ago
This weekend Henry Paulson, Ben Bernanke, and Congress are going to hammer out a way for the US to buy up the bad mortgage debt that is causing turmoil in the markets. The most conservative estimate of the cost of doing this is $500 billion and it could easily run into the trillions of dollars. We...
by mio cid 3 years ago
Income inequality has been growing for decades . Do you consider it a problem ? If so , how would you fix it ?
Copyright © 2018 HubPages Inc. and respective owners. Other product and company names shown may be trademarks of their respective owners. HubPages® is a registered Service Mark of HubPages, Inc. HubPages and Hubbers (authors) may earn revenue on this page based on affiliate relationships and advertisements with partners including Amazon, Google, and others.
|HubPages Device ID||This is used to identify particular browsers or devices when the access the service, and is used for security reasons.|
|Login||This is necessary to sign in to the HubPages Service.|
|HubPages Traffic Pixel||This is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.|
|Remarketing Pixels||We may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.|
|Conversion Tracking Pixels||We may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.|