Clipmarks | thinkingblue's credit cards collection

Paulson Was Against Cumbersome Regulations

Sun, 27 Jul 2008 13:16:33 GMT

clipped by: thinkingblue
clipper's remarks: Now he's trying to defuse the crisis deregulation has caused...
(excerpt) Today, (Paulson's) Goldman stands alone as the only bank that has yet to take huge write-downs in the credit crisis. However, IT was an INTEGRAL PART OF A MONEY-HUNGRY WALL ST. CULTURE that helped build, oil and maintain the securitization and SPIN-OFFS, underlying the current mortgage-fueled problems.

The financial crisis has swirled around the White House in more violent waves. But each sign of economic trouble brought assurances from regulators, Mr. Paulson and others in the Bush adm. that the housing sector was experiencing a “CORRECTION” or a “REPRICING OF RISK” (ROVE-NEWSPEAK) that would work its way through the system without throwing the economy into a steep downturn. Each assurance soon ran aground as more bad economic news poured in.
(MOTHER OF ALL SELF-RIGHTEOUS QUOTES) "the real problem facing Wall Street was a welter of cumbersome regulations" - Henry Paulson (Yew recon HE LEARNED SOMEthang)

Clip Source: www.gainesville.com

Can Hank Paulson Defuse This Crisis?

IF Henry M. Paulson Jr. hadn’t left Wall Street for Washington to become Treasury secretary in 2006, he would still be making tens of millions of dollars a year as the chairman of Goldman Sachs. He would be comfortably zipping around the globe on a corporate jet.

He wouldn’t be at the center of the Bush administration’s struggle to contain a potential financial meltdown the likes of which the world hasn’t seen since the Great Depression.

Whether Mr. Paulson has actually done the right things during his two uneven years in office has been a matter of intense debate in financial and political circles

debate reached a boiling point last week as Congress moved toward approval of a taxpayer-financed rescue package that Mr. Paulson advocated for Fannie Mae and Freddie Mac

Yet he’s also been roundly criticized as having not grasped the threat and severity of the crisis when it began to snowball about 18 months ago.

Critics on the right

accuse

Paulson

of panicking

Tags: credit, paulson, economy, politics

Paul-The-Credit-Card-Extortionist

Sat, 01 Mar 2008 14:06:39 GMT

clipped by: thinkingblue
clipper's remarks: Kiss credit card rip-offs goodbye!
Bank of America is hiking rates for some good customers--to as high as 28%! Because they can.
We just hand-delivered 120,000 Valentines Day cards to Congress from people like you--telling them to help us "kiss credit card rip-offs goodbye"! Now we need to follow that up with strong support for legislation just filed by two powerful lawmakers.
We have huge momentum, but this bill needs cosponsors. Let's get another 100,000 messages to lawmakers in the next two weeks and gather the cosponsors we need to move the bill to the House floor.
Just send the message below or edit it (click in the box and type your own words) to tell your lawmaker what you want in your own words. Click the link, and our system will automatically address the letter correctly by adding your information and send it on to your lawmaker.
https://secure.consumersunion.org/site/Advocacy?cmd=display&page=UserAction&id=1797
http://thinkingblue.blogspot.com

Clip Source: thinkingblue.blogspot.com

My two cents worth:

Over the years I have paid out tens of thousands of hard earned cash in interest fees. Credit cards have been my nemeses throughout life while raising 3 children. Now my grown kids are hitting the same struggle.

Sometimes, when incomes are not enough to live on, most turn to credit because it's constantly thrown in their face.

If the credit card companies were regulated and fair, this could help low income families, now and then, but instead these companies are allowed to bleed them dry.

There was a time before the Republican stranglehold on our country when you could deduct these fees from your income on yearly tax statements. But the Republican Congress arranged to have that slight financial aid taken away.

Those of us, at the bottom rungs of the income ladder need protecting from these vultures but do we get any? Not on your life! There is just too much money to be made off the backs of the low to middle income worker and that is thoroughly loathsome and WRONG!

Tags: credit, card, rip-off, extortionist