Naked Emperor Paulson: Hey, gimme the rest of TARP dough
Some of us saw through Hank Paulson before Crap Sandwich passed. On September 24, I warned about the myriad reasons Hank Paulson needed to be contained.
Congress didn’t listen. Neither did many conservatives who blindly trusted the Naked Emperor.
For those who insist no one could see it coming, well, um, you were wrong. Welcome to the land of the seeing.
And now, after asserting he wouldn’t ask for the rest of the TARP dough, Paulson does his usual pirouette:
That was then:
Treasury Secretary Henry Paulson said he doesn’t plan to ask Congress for the rest of the $700 billion Wall Street bailout fund before leaving office next month, but indicated that could change if there is an emergency in financial markets.
“We have a lot of firepower” now,” Paulson told CNBC in a live interview. “We’ve got what we need right now.”
This is now:
Treasury Secretary Henry Paulson urged Congress to release the second half of the $700 billion financial rescue fund after the government exhausted the first $350 billion in less than three months.
See what others have said
Note from Michelle: This section is for comments from michellemalkin.com's community of registered readers. Please don't assume that I agree with or endorse any particular comment just because I let it stand. A reminder: Anyone who fails to comply with my terms of use may lose his or her posting privilege.
Comments
You must be logged in to post a comment.
 |
Obama’s new campaign candy: More mortgage aid, homeowner “bill of rights”
February 1, 2012 11:39 AM by Michelle Malkin
88 Comments
One cheer for the belated SEC lawuit against Fannie/Freddie execs
December 16, 2011 11:53 AM by Michelle Malkin
45 CommentsBailing out the world
November 30, 2011 09:35 AM by Michelle Malkin
131 CommentsBreaking: Barney Frank will not seek re-election
November 28, 2011 09:54 AM by Michelle Malkin
168 CommentsSnortalicious: Chicago corruptocrat/Fannie fat cat William Daley wears Occupier costume
October 17, 2011 01:56 PM by Michelle Malkin
20 Comments
Here are your 1 percent-ers: Obama’s bundlers
October 17, 2011 03:13 AM by Michelle Malkin
79 CommentsJohn McCain Understands the Frustrations of ‘Occupy Wall Street’
October 12, 2011 09:07 PM by Doug Powers
122 CommentsWho’s Up For Another Fannie Mae Bailout?
May 9, 2011 11:20 AM by Doug Powers
67 Comments
Categories: Subprime crisis
Pundit & Pundette
» Bishop Jenky, Nicki Minaj, and the "98%"JustOneMinute
» We Hear From The Department Of Good Ideas And False ChoicesHot Air
» GOP budget leaders: The president’s fourth straight budget flop underscores need for reformPundit & Pundette
» Obama's war on conscience, cont'd
Jerk.
Hartford just bought a bank to secure bailout money.
What a scam.
He needed to be fired, not contained.
Of course, but we know that the President is not likely to do so.
That leaves us with the Republican legislators which can only hope to try to contain him.
your picture of this turkey is priceless michelle. and mr bush says he is a free marketeer but hired a democrat bailout boss. you hit the nail right on the head michelle when you labelled this crap sandwich, and your keynsian tutorial of a few days ago should be mandatory viewing for all those we entrust with our money. capitalism isn’t perfect, but it at least works where everything else fails.
Every time this man opens his mouth the stock market craters. Just shut up, go home for a six month vacation away from dc paulson. Believe me, the country will be lots better off with you gone.
L
He needs to be hung!!
Del Gue: [to Jeremiah] You turn down this gift, and they’ll slit you, me, Caleb and the horses from crotch to eyeball with a dull deer antler!
I doubt Paulson will get the money. First, everybody is ticked at him, left and right. Secondly,I’m sure the Dema want to save the second half for Obama.
Shouldn’t he disclose what he did with the first 350B? How about making the banks come back with a real plan like the auto industry had to do?
I don’t know about you guys, but I’m starting to think maybe we should have gone with a more conservative candidate for Pres in ’04. Like maybe John Kerry. /sarc
Am I the only one here who noticed that he isn’t even using the money to do what he insisted needed to be done?
We were told that because the housing market was so bad, the government needed to buy the troubled mortgage assets to get them off of the banks’ balance sheets. So far, Paulson has purchased absolutely no assets as far as we know.
And the SOB wants the rest of the money, but won’t allow us to see where he spent the first half?
Give me a pitchfork and a torch, please.
our government is no more than a den of thieves scratching each others’ backs these days. Vote for whomever you like, but we, the people, still lose.
“It was the 12th year in a row that the federal government has been unable to accurately report on its fiscal condition.”
http://canadafreepress.com/index.php/article/7057
This has absolutely nothing to do with what is best for the country. It is about what is best for the bankers. They are getting rich, literally beyond our wildest dreams, and they are doing it the same way the liberals do – by voting themselves a big piece of our pie. And now they’re taking pieces of pies that aren’t even baked yet.
Not only are we screwed, our unborn great-grandkids are getting screwed. Now *that’s* taxation without representation.
OT:
Has anyone seen an update on Obambi’s
sister, has she been booted yet?
oops it is his aunt not sister.
Seems she moved to Cleveland, why the hell is she still in the Country?
The perfect time to do that was when he came begging to Congress for this his ridiculous bail out in the first place. Not a wimper from the blogs, the press and the congress. So why are we whining about him now?
Because our President suspended the enforcement of the law on immigration as a favor to his successor.
Isn’t he sweet?
Didn’t Obama go on record that his aunt should follow the law of the land? Seems he got to keep his cake and eat it, too.
And then we voted 89% of the bailout supporters back in to office.
I agree that Republicans should have done more then.
But I disagree that blogs were silent on this. It was all we were talking about for quite a while.
Those of us paying attention know it all too well-most of this list would fit that category. But unfortunately there are many millions of people brought up to trust the government.
Sadly some of them consider themselves Conservatives. They don’t know what that means either.
Not only that, we swamped their switchboards and crashed their servers.
They don’t care what we want.
Love the picture! He’s a Col. Klink clone… in more ways than one!
Salt,
Wasn’t that just waived until after the election? hm Perhaps Michelle will give us an update when she is on the mend.
Let’s see someone – anyone – in Congress introduce legislation to close all federal bankruptcy courts. Now that the new standard is that Uncle Sam bails you out when you bite off more than you can chew …
Whatchu mean by “WE”, homeboy?
I didn’t vote for those bozos.
He’s not call “Shifty Paulson” for nothing!
Must be feeling better today Michelle, great to see. Hope your son is doing as well.
His firepower turned out to be a big dud. Now he wants to order another round of expensive silver blanks for his machine gun so he can make a lot of noise and appear to be fighting against this economic downturn while actually doing absolutely nothing but wasting lots of money.
Like my post in the GW Bush Auto Bailout blog, I decided to figure out what else the Government could have bought with $350 Billion instead of dumping it into the black hole of debt ridden corrupt banks.
Ted (AKA Drown ‘em) Kennedy made a statement on the Senate floor comparing the cost of our Troops per day in Iraq ($195 Million) to other things we could use. See his list here.
I’ve added a couple of his items here, but comparing them to the bailout instead.
Please feel free to add to it:
61 One thousand Megawatt Nuclear Power Plants @$5.7 Billion apiece
or
3932 New oil Rigs @$89 Million per rig
or
Instead of 780 Firetrucks per day like Ted Kennedy mentions, with bailout funds we could buy 1,400,000 firetrucks.
or
Instead of paying 7,000 paramedics for a year (at $27,857/year which seems pretty low to me, maybe he ‘fudged’ his numbers a bit, but we’ll use his figures) we could actually pay 12,564,166 paramedics for a year.
or
Instead of providing 9,700 port container inspections (at the cost of $20,103 per inspection which seems high), we could provide 17,410,336 container inspections.
or
We could buy every single family in the United States a 250cc 2-seater Go-Kart with a roll cage (based on US Census estimates for 2009 and an Go-Kart price of $2,999.99) and still have enough money left to buy them an ice cream cone.
Congress – stealing from American’s since 1862 (The year when the IRS was started to pay for the Civil War)
What? No ex post facto laws regarding financial transactions? If true, it is an outrage!
right,
it is true
I think many posters were, just not many of the conservative bloggers. They did argue against the bailout, but they did not as I saw demand the resignation of Paulson, nor castigate Bush for scaring the begeebers out of the stock market. This had to be one of the most irresponsible acts I can remember a president making.
Mister P,
dont fret you will see much worse in short order.
I think Bush is like the Emperor and Paulson is the one selling him the fake bill of goods!! We can all see what Bush cannot.
Michelle,
Execllent post.
I must say, though, that this quote:
Should be repeated back to you in a different area…
“Barack’s COLB” is a “KOS Kiddie” creation that screams,
and is no less a forgery than the COLB for
The two forged COLBs,
along with the template used to create them,
were posted within minutes of each other on Daily Kos.
On December 19th, 2008 at 2:39 pm, RogersUmp said:
Exactly. President Bush is a good man with a good heart, but he is gullible.
President Bush trusts people who should not be trusted.
Bush has done what he has done because he trusts Secretary Paulson.
Bush has believed every lie that Paulson told him.
By both promoting and supporting the bailout, Bush and McCain led the Republican Party to the slaughter in this last election.
They not only enabled massive socialization, they let the Republican Party take the blame.
Democrats (Democratic Socialists) caused the problems, got exactly what they wanted, and won the election.
The truly scary part is he seems to have no idea what he is doing.
Did you ever in your life see anyone charged with $700 billion firing from the hip? Incredible.
I think clear back to the Tonkin Gulf Resolution and all the times since then that Congress has just handed off responsibility, bailed out, and then whined when things went south. And they get away with it every time!
He’s making it up as he goes along. Why was HE considered so qualified? My 8 year old cousin could go better!
Where’s Dennis Kucinich when you need him?
dexter, hadn’t noticed it, but put a monacle on this turkey and he is col klink. and just as competent.
He will get this money, no question.
Obama is coming to town with his own $1 TRILLION “stimulus” package. Paulson will request another trillion after he burns through this $350B before March.
Now would be a good time to get mad. Oh, wait, the auto industry crooks are going to get a few billion dollars.
NEVERMIND.
This is why Republicans keep getting hammered with the accusation that they’re the party of Big Business. This whole Bailout Bonanza has been about saving the cronies of Paulson and other financial sector big wigs. None of this has worked, will work, or can be expected to work. Let the car companies declare Chapter 11 — big deal. They won’t close shop; they’ll renegotiate with their unions and suppliers under a court appointed supervisor. What’s so bad about that? So everybody in that industry takes a pay cut. That’s life. That’s what many of the rest of us are going to be doing soon, if we haven’t had to already. This comes from spending more than you make and borrowing on the premise that tomorrow will always be better than today. Nope. Doesn’t work that way. Sometimes tomorrow is the pits.
Wow. $350,000,000,000 in 3 months. I thought my wife went through money fast.
I just wish Bush & Company would go away and stop giving my grandchildren’s money away to their rich buddies.
I guess they had to destroy the dollar to save it.
Paulson is a bigger crook than Madow….aided by Bush who helped raid the treasury for his corporate crony country Killers!
Bush deserves the Gettlefinger!
I thought I understood economics but I afraid my education must be incomplete. After all Paulson is this incredibly bright ivy league man, with years of experience behind him. His motivations must be pure and he only has our best interest at heart. /sarc
GGEEEEEESSSS!!!!!!!!!
The left and right sides of the aisle may just agree on NOT giving Paulson the last of HIS money so they can divert it to Obamanation projects. At this point there is no difference who/how it gets spent it will be wasted.
WTH is up with Bush?? Yesterday he was talking chapter 11 for GM and Chrysler and today its $17 billion is he drinking again?? or just schizo???
I hear that Prez. Bush is going to give the Presidential Medal of Freedom to Richard S. Fuld, Jr. for Mr. Fuld’s sterling service as CEO and Chairman of Lehman Brothers Holding.
Hr heard GM builds cars in Mexico…