You could also add this stuff from 955 post 271290
Hank Paulson saying one thing and doing the opposite, intentionally misleading investors:
Quote: Seizure by Regulators In July 2008, Congress passed the Housing and Economic Reform Act (HERA), which gave Treasury the power to inject capital directly into the GSEs. It also established the framework for the administration of their businesses under the direction of the Federal Housing Finance Administration (FHFA). At the time, prominent figures like Federal Reserve Chairman Ben Bernanke, Treasury Secretary Hank Paulson, and FHFA DirectorJames Lockhart were engaging in a public relations campaign to help inject private capital into the GSEs and assure investors that they would not need to nationalize the companies. In fact, Ben Bernanke and Hank Paulson called the GSEs “adequately capitalized" in July 2008. So, it came as quite a shock to shareholders when Hank Paulson used his bazooka to decapitate shareholders just two months later. In his book, On the Brink, Paulson brazenly describes how he wielded his power, almost as though he relished the ultimate power and paid no heed to the ramifications.
Thursday, September 4, 2008 Do they know it’s coming, Hank?” President Bush asked me. “Mr. President,” I said, “we’re going to move quickly and take them by surprise. The first sound they’ll hear is their heads hitting the floor.” … I’m a straightforward person. I like to be direct with people. [HA! Investors aren't people???] But I knew that we had to ambush Fannie and Freddie. We could give them no room to maneuver. We couldn’t very well go to Daniel Mudd at Fannie Mae or Richard Syron at Freddie Mac and say: "Here’s our idea for how to save you. Why don’t we just take you over and throw you out of your jobs, and do it in a way that protects the taxpayer to the disadvantage of your shareholders?" The news would leak, and they’d fight. Several years later, Paul Volcker, a man that held Paulson’s position as Secretary of the Treasury called Paulson’s actions “boneheaded.” There was literally no reason for the average retail shareholder to believe there were big problems at Fannie and Freddie (even though Paulson told some of his buddies at Eton Park otherwise). Fannie and Freddie still had access to the capital markets and continued to do business as usual. http://simsonfinance.tumblr.com/
Where were the regulators when the banks were making all the junk loan transactions???
Along those same lines... I think it is a bad idea for us to copy/paste a message and send it word for word. If I received the exact same message with the exact same "Subject" line 100 times, I consider it spam and quit reading the messages. BUT, if I receive 100 different Emails talking about the same subject, then I pay attention.
Just Saying...
Looks like a little "Pre-Market" action. GO F&F !!
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