ejhickey

Did We Nationalize Banks, Or Did They Nationalize Us?

I was stunned to hear Larry Kudlow defending Hank Paulson. Essentially what Kudlow said was that Paulson may have broken the law and exceeded his authority but it was ok because he supposedly avoided a disaster. In other words the ends justify the means.

Of course Kudlow also said he expected a good earnings report from BAC. Just the opposite happened and BAC stock has taken a big step BACwards. So much for Kudlow's theory that they banks are profitable and will lead the economic recovery