Tuesday, September 23, 2008

Paulson and Bernanke push bailout as Lehman assets sold

The Internet is full of commentary regarding the bailout. I am not an economist, and couldn't possibly comment on the correctness of the proposal (except for the constitutional issues noted earlier.

Part of me wonders why a Republican Administration, who is, in theory, anti-regulation and anti-big government, is pushing this proposal, but a great question has been asked of Paulson and Bernanke, in Paulson and Bernanke push bailout as Lehman assets sold - Yahoo! News:

You two gentlemen have been wrong about the housing crisis, missed the leverage problem, and understated the derivative issue,' said Barry Ritholtz, director of research at Fusion IQ, an investment firm in New York. 'Indeed, you two have been wrong about nearly everything since this crisis began years ago. Why should we trust your judgment on the largest bailout in American history?

Paulson and Bernanke are certainly at the center of this crisis. Their answer will be interesting.............if they ever answer.
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