Community | September 22, 2008 | 5 comments

Paulson: We can’t wait for regulatory reform

source: http://www.msnbc.msn.com/id/26817453/

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starr111
Sunday's Meet the Press recapped and dove into in this article: Sept. 21st 08

The federal government stepped in with an emergency bailout of collapsing financial institutions on Wall Street last week because it could not wait for regulatory agencies to sort through the “crisis situation,” Treasury Secretary Henry Paulson said Sunday.

“Financial institutions [were] clogged with illiquid loans,” Paulson said in an interview on NBC’s “Meet the Press,” effectively freezing credit markets and choking off money to keep Wall Street humming.

“This is an urgent matter, and we need to move quickly,” Paulson said in urging Congress to immediately approve the Bush administration’s request for sweeping authority to bypass regulatory agencies and directly take over the bad mortgages and mortgage-backed securitites."
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5 comments // Paulson: We can’t wait for regulatory reform

  • globewatcher
    • 0
      globewatcher  

    • yes. everything that they want to push through is alwasys a big emergency. imperative. my ass. and if it is this time, it's their own damn fault for crying wolf one too many times. burn baby burn.

    • 3 years ago
  • jahbini
    • 0
      jahbini  

    • The bubble is burst.

      Can we, should we put humpty dumpty together?

      We may go through hard times without humpty dumpty, but we are going to have hard times anyway.

      Look inside yourself for the strength and resiliency, because you won't find a letter in your mailbox saying that "you have been pre-approved" to a lifetime of security.

    • 3 years ago
  • AveryMoore
    • 0
      AveryMoore  

    • You people just don't understand how Wall Street Masters Of The Universe think.

      You get a flat tire.

      Then you start screaming: 'Panic! Panic! Call the National Guard! Burn down the Constitutional Rights of all citizens! Don't think about how are we gonna fix this tire properly! This is an emergency! Stop reading the fine print right now! Everybody do exactly what I tell you! Or my head will explode!'

    • 3 years ago
  • starr111
    • 0
      starr111  

    • Does everyone relize that this number is so big that we all spell out the word BILLION instead of using the number representation!?!?!

    • 3 years ago
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