Hank Paulson Now Moves to Bailout Credit Card Companies

Sectary Paulson announced today that he is no longer interested in purchasing “illiquid” assets from banks in the U.S. The problem is he warned us that if we did not buy these bad loans/etc from the banks that entire U.S. financial system would collapse. After spending $290 billion on buying up preferred shares in failing banks and AIG, Paulson changes his mind about the real cause of the recession. Could it be that he never knew what the real cause was and he was only stalling? Or could he have used the air cover of the bailout to help his friends in the banking industry in other ways? Only time will tell. What I can tell right now is Hank Paulson and his Goldman Sachs boys need to be shown the exit soon. (Well in advance of January 20, 2009)

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