Replies to post #67280 on Tornado Alley (PROG)

[BOREALIS]

Bush's enjoying the final days of his Legacy ....

[PegnVA]

I'm watching the Senate Banking Comm public hearing as the Comm asks Paulson, Bernanke and Lockhard(sp?) questions about the $700billion bailout - this is the FIRST public hearing regarding this HUGE bailout that Paulson proposes US taxpayers assume immediately, with no oversight.

Paulson was Chairman of Goldman Sacks from 1999 to 2006 and this week GS had to convert themselves into a bank holding corp if they wanted to stay alive. Why should ANYONE put faith in Paulson's judgement now when he claims to have the best approach to this financial crisis - that, btw, has been known by Paulson/this admin for at least ONE year ago?

Sen Schumer asked why should taxpayers give the entire $700billion all at once? Paulson had no good answer.