Re: Paulson Details - The American Spectator | USA News and Politics
Re: Paulson Details

I cringe along with everyone else at the notion of Henry Paulson spending up to $1 trillion in public money to buy bad mortgage-backed securities from failing financial institutions. There is one potentially bright spot, pointed out by (gulp) Barney Frank: These securities will be purchased at a steep discount, and will be worth a whole lot more after restructuring. The software was always right. Securitized mortgages paid off, even allowing for defaults. Right now, somebody with some authority needs to engineer the financial rework. Congress just wants to wait around, then point fingers. Paulson has been given the authority, and, unfortunately, he has to use it.

Sign Up to receive Our Latest Updates! Register

Notice to Readers: The American Spectator and Spectator World are marks used by independent publishing companies that are not affiliated in any way. If you are looking for The Spectator World please click on the following link:

Be a Free Market Loving Patriot. Subscribe Today!