In These New Times

A new paradigm for a post-imperial world

Posts Tagged ‘Poulson’

What Wall Street Hoped (and hopes) to Win

Posted by smeddum on October 1, 2008

What Wall Street Hoped to Win Counterpunch

By PAM MARTENS

“I got a lot of Ph.D. types and smart people around me who come into the Oval Office and say, ‘Mr. President, here’s what’s on my mind.’ And I listen carefully to their advice. But having gathered the device (sic), I decide, you know, I say, ‘This is what we’re going to do.’ And it’s ‘Yes, sir, Mr. President.’ And then we get after it, implement policy.”

— President George W. Bush, October 3, 2007

Pity poor President Bush. He’s been pushed aside as The Decider. The Decider’s strut and press entourage, along with the coffers of the United States, were to be handed to Henry M. (Hank) Paulson, U.S. Treasury Secretary, who was to have sweeping authority to share newly augmented plunder with his cronies on Wall Street and set up a vast new bailout bureaucracy, all at taxpayer expense. Read the rest of this entry »

Posted in Financial crisis | Tagged: , , | Leave a Comment »

The Bailout charade goes on

Posted by smeddum on September 30, 2008

Steve Forbes: Economy In ‘Cardiac Arrest’ Washington Post
Former Republican presidential candidate and noted flat-taxer Steve Forbes appeared on CNBC moments ago with a grave diagnosis for the U.S. economy, likening it to a flatlining coronary patient.

“Right now there is fear in the marketplace,” said Forbes, also editor-in-chief of Forbes magazine. “Not since 1933 have we been as close to the abyss as we are now.” Read the rest of this entry »

Posted in Uncategorized | Tagged: , , , , | Leave a Comment »

 
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