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Paulson endorses bank stock purchase plan

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posted on Oct, 10 2008 @ 06:05 PM

Paulson endorses bank stock purchase plan

WASHINGTON - Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions.
Paulson said the program to purchase stock in financial institutions will be open to a broad array of institutions.
(visit the link for the full news article)

posted on Oct, 10 2008 @ 06:05 PM
Flush! And there we have it folks.
Did you hear that?
America just got flushed.
What was that about not having a great depression?
Here it is, you are living it. We are in for a whole New New Deal, this will be the start of a whole New America and World.
So what does everyone think? I think it stinks but I think the whole thing has been aa sham so what do I know.
(visit the link for the full news article)

posted on Oct, 10 2008 @ 06:08 PM
They moved ahead @ 3pm today. Now you know where that unprecedented rise in the DOW came from.

posted on Oct, 10 2008 @ 06:11 PM
What we need is a another round of stimulus checks for taxpayers, that should solve the problem.

posted on Oct, 10 2008 @ 06:12 PM
And, so it begins.
America as we all knew it - is now gone.

And with this news, I'm switching over from coffee to whiskey as tonights drink of choice.

posted on Oct, 10 2008 @ 06:13 PM
um, is it just me, or would this not be an excellent time to invest in stock. Think about it. These financial firms stock can be bought for a couple dollars each. No doubt with the government announcement, some large hedge funds and investors will buy a butt load of stock. If you bought now, waited for the major investors then the government then sold the stock you would stand to make some serious cash.

Isn't kind of stupid for the government to do it just for this reason. I mean if hedge funds and major investors invest, then they will have to buy the stock at a hirer price, just to have the fund/etc sell after the invest causing a loss is the value.

Isn't like helping the banks, yet screwing the tax payer by announcing it, then waiting to do it?

just my thought.


posted on Oct, 10 2008 @ 06:20 PM
So here's my question. Let's put aside the whole idea of the gov't interfering (openly) in the stock market and the ethics thereof. Just set that aside for now.

What happens if the gov't buys up say $1B worth of stocks and the market tanks? What if they wind up with $500M less than they started with?
Just whose money do they think they're playing with here??

posted on Oct, 10 2008 @ 06:25 PM
reply to post by camain

Playing the stock market seems like a bad idea right now. Remember that SNL skit, Bad-Idea Jeans? My brother-in-law is a heroin addict, and I am letting him move into my house...bad idea (and they show the butt). Likewise, I am considering investing into the stock market, with Bush/Cheney and Paulson at the helm...bad idea.

posted on Oct, 10 2008 @ 06:29 PM

Originally posted by Mainer
They moved ahead @ 3pm today. Now you know where that unprecedented rise in the DOW came from.

Exactly! I stated this on another thread earlier.

"For the Dow to be down to 7,978.48 at 1:50pm (-18.24), then come back to positive in just an hour and a half, just insults our intelligence."

The Dow rose late in the day today due to "some" of the bailout money. Very strategic and well played.

Now the government is going to buy the stock?

Boy....are we in serious trouble!

posted on Oct, 10 2008 @ 06:29 PM

That explains the why the Dow was in epileptic fits.

Well, let the games begin!

"...a broad range of financial institutions.."

posted on Oct, 10 2008 @ 06:44 PM
More details here...

The plan calls for banks to be recapitalized with public and private funds, but makes no specific mention of another common suggestion: Guaranteeing all interbank debt worldwide.
The G7 meeting came as global stock markets endured another volatile day. Investors around the world scrambled to move their funds into the safest and most liquid investments, such as cash and government bonds, fearing that the seizing up of credit markets could lead to a major recession and the failure of large corporations.
In a press conference, Paulson gave some new details of the emerging plans by the U.S. federal government to inject capital directly into a "broad array" of financial firms.

This came after a meeting behind closed doors of the G7.

posted on Oct, 10 2008 @ 06:58 PM
reply to post by anachryon

This bailout is not intended as a fix. This type of system will crash no matter what is done. So as far as them doing this, hey, it`s not their money, so why would they care. It would be no different then if I had $1,000.00 left in my name, no other money, and I knew I had to risk getting more to live on. You then come to me and tell me, hey, I am going to Vegas, give me your money and I will play it, I may not win, but there is a good chance I will win it big. Now, what do you think the outcome of it would be? The market is no different. It`s nothing but a gamble, and remember, these are bad stocks in the beginning.

Why is Paulson even endorsing anything? I think he has as much to do with this problem as the next person. He needs to be canned from his position.

[edit on 10-10-2008 by FiatLux]

posted on Oct, 10 2008 @ 07:01 PM
Hopefully he buys them cheap, runs up the price of the stock as high as he can, sells and uses the profit to pay off the national debt. Then we can do another bailout and do the same thing. Socialism at its best.

posted on Oct, 10 2008 @ 07:25 PM
reply to post by pluckynoonez

Another stimulus package? You mean like this one?

posted on Oct, 10 2008 @ 07:33 PM
People need to understand the implications of Paulson's words. The legislation passed last week gave him sweeping powers to change the very nature of our country with not so much as a protest, much less a vote.

fascism: (făsh'ĭz'əm)A system of government marked by centralization of authority under a dictator, stringent socioeconomic controls…

US Military Dictionary: fascism:n. 1. an authoritarian and nationalistic right-wing system of government and social organization...

Historian Gaetano Salvemini argued in 1936 that fascism makes taxpayers responsible to private enterprise, because "the State pays for the blunders of private enterprise... Profit is private and individual. Loss is public and social."

Quotes for context:

"An end run around national sovereignty, eroding it piece by piece, is likely to get us to world order faster than the old-fashioned frontal assault... Even as nations resist appeals for "world government" and "the surrender of sovereignty," technological, economic and political interests are forcing them to establish more and more far-ranging institutions to manage their mutual interdependence." Richard Gardner, Council on Foreign Relations

"Our leaders are cruel because only those willing to be inordinately cruel and remorseless can hold positions of leadership in the foreign policy establishment. People capable of expressing a full human measure of compassion and empathy toward faraway powerless strangers do not become president of the United States, or vice president, or secretary of state, or national security adviser or secretary of the treasury. Nor do they want to." William Blum

"This [the U.S. Constitution] is likely to be administered for a course of years and then end in despotism... when the people shall become so corrupted as to need despotic government, being incapable of any other." Benjamin Franklin

" The liberty of a democracy is not safe if the people tolerate the growth of private power to the point where it becomes stronger than the democratic state itself. That in its essence is fascism - ownership of government by an individual, by a group or any controlling private power." President Franklin Roosevelt

“Fascism should more appropriately be called Corporatism because it is a merger of state and corporate power” Benito Mussolini

“Fascism is capitalism in decay” Vladimir Lenin

"The price good people pay for their indifference to public affairs is to be ruled by evil men." Plato

posted on Oct, 10 2008 @ 08:16 PM
This is a really bad idea. Why do we want stock in insolvent companies? Why not just buy all their loans and let then get well that way and then reach out and help middle americawith the interest we willmake on those loans??

This is bad news for the people of the world.

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