Does Paulson have too much unfettered power? Options

[Hartmann]

What do you think?

We give this guy $700 Billion to do with as he pleases. He claims that it is helping the banks extend credit all the while the banks are saying "we have government money now, we can limit the number of loans we give out".

I've read Representative Gohmert's plan to do away with income and FICA taxes for a year, which would inject a good chunk of change into the taxpayer's pocket while not increasing the national debt. Some of the estimates of what the debt will be are around $7 trillion.

[Spectatrix]

In other news, the Fed cuts rates to 0.5% and doubles its balance sheet, mainly by printing more money: http://money.cnn.com/2008/12/15/news/econo...arket/index.htm

*facepalms*

This post has been edited by Spectatrix: Dec 16 2008, 11:49 AM

[Hartmann]

In other news, the Fed cuts rates to 0.5% and doubles its balance sheet, mainly by printing more money: http://money.cnn.com/2008/12/15/news/econo...arket/index.htm

*facepalms*

It's the perfect plan... Devalue the currency to make it easier to pay off your debts.

Ugh...