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Should Henry Paulson resign?
Posted by sumpterc • 11/24/08 • Subscribe to this Discussion [RSS] • Report This Topic
Topics: henry paulson, resignation, treasury secretary
After all is said and done, we will really see just far reaching the implications from the $700 Billion dollar bailout. Henry Paulson will be at the helm of all this and will forever go down in history for this fiscal blunder (an understatement).
User Comments
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I think it'd be nice if the entire Bush administration resigned, and let Obama start two months early...wonder what the chances of that are.... -
I know that would be nice. Thomas Friedman from the NY Times mentioned the idea yesterday of moving up the inauguration. I wouldnt bet my life on it though.
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I'm losing confidence in our "officials" as they seem to believe it's best to keep the American consumers in debt by infusing money into the credit markets in an effort to get us to spend more of what we don't have on things we don't need.
It's time for a "debt focused jubilee" in the American consumers' pockets. Bailout the consumer with a FORCED elimination of credit card debt. That will provide most folks with at least an 18% boost in their discretionary spending.
With what's left over, do the same with auto loans for another 5 to 12% increase in discretionary spending, and then limit future auto debt to no more than 90% of purchase on no more than two vehicles at a time.
The mortgage crisis could solve itself with the increased discretionary spending directed at paying down mortgages.
Maybe, just maybe, we could once again become a nation of "savers" rather than a nation of debtors who are literally slaves to the economy.
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