CM in MA

Henry Paulson Could Have Done Better

Gene-

We are total disagreement--the bailout wasn't needed and isn't necessary. The capitalist system has self-correcting and healing mechanisms. These have been short-circuited by the the same people who were the architects of the abuses the system. They proclaim that they couldn't foresee the folly of their policies and practices, but now are the only ones with wisdom, foresight, and ability to save us from them. Paulson, Bernanke, et al, are only making things worse. This chapter in U.S. and world financial history will go down as one marked by hubris and failure. These people, including those about to take office, are the problem not the solution.


On Nov 24 04:20 PM Gene Chan wrote:

> I guess I wasn't clear... I totally agree with you that the world
> would be a better place if a bail-out wasn't needed in the first
> place. But there is nothing we can do about that now - the bail-out
> package is there, it was already voted through Congress and everything,
> we have no power to change that. The only thing we can hope for now
> is that they don't squander that money.