July 14, 2024
The Paulson plan – even with amendments – is still based on clinging to the very same "Trickle Down" ideology that the plan PROVES is bankrupt. Wealth did not trickle down, debt trickled down. And to cure this, the plan asks taxpayers to Trickle Up with their tax dollars — not to pay their own coerced debt, but to bail out exploitative, weathy institutions and investors at the top. Any investment of public tax dollars needs to begin at the bottom. Future interventions at the top are already provided for – did anybody notice that the failure of WaMu was handled perfectly: depositors are safe, investors lost.    San Diego California real estate

5 thoughts on “The Paulson Plan – Still Wrong

  1. Dummies should have made sure they could afford houses before buying them. Lenders should have been more analytical is choosing borrowers who really had the capacity to repay loans at whatever the maximum interest rate could be after any teaser rate ended. Fools–all of the players in this drama are fools.

    Bail Specialist

  2. Everyone likes to talk about the foreclosures as if it’s a bad thing when the reality is that it’s an incredibly good thing. All the bad loans inflated the market well beyond what it should have been. As these people default on their bad loans the price of housing corrects, as it should, and maybe the rest of us get to buy. This story is good news and it should be reported as such. Or, would we all be better off if the government steps in and inflates pricing again.

    Plastic Surgeon

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