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Stock intended to eventually earn taxpayers a profit as part of the Bush administration’s massive bank bailout has lost a third of its value — about $9 billion — in barely one month, according to an Associated Press analysis. Shares in virtually every bank that received federal money have remained below the prices the government [...] “By proactively addressing the problems we saw coming and being pragmatic enough to change strategy in the face of changed facts and despite the inevitable criticism — we prevented a far worse financial crisis.†What Hank Paulson calls pragmatism, I call making it up as he’s going along. After receiving $700 million for the [...] “We have in many ways humiliated ourselves as a nation with some of the problems that have taken place here.” “We’re not proud of all the mistakes that were made by many different people, different parties, failures of our regulatory system, failures of market discipline that got us here. We will mitigate the impact on the real economy and we’ll get this financial system working again.” Mobile post sent by washingtonhotlist using Utterli. Replies. mp3 |
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