Henry Paulson – We Must Be Prepared to Use Our Authority in Controversial Ways
Henry Paulson – We Must Be Prepared to Use Our Authority in Controversial Ways by Rory – The Daily Coin
As if Henry Paulson hasn’t already set our economy on fire and now he is, basically, saying it may be time for “scorched earth” economic policies to come to the fore. Not only is Henry “there will be tanks in the streets” Paulson saying this, two other monkeys of economic destruction, Ben Bernanke and Tim Geithner, support this notion of more power for the Federal Reserve.
What I find most amusing is these are the people that are directly responsible for the economic and financial mess we find ourselves today. It is the very fact these economic hitmen wielded as much power as they did and now they claim they need even more! Are you kidding me?!
Bloomberg describes these people as “battling the last” financial/economic crisis – no, these are the people that created the last, and current, financial nightmare that is eating away at our sovereignty like a cancer consumes its host.
Federal Reserve policy makers appear confident that they have the weapons they’ll need to fight the next financial crisis. Some of their predecessors on the front lines are not so sure.
Ben Bernanke, Timothy Geithner and Henry Paulson all voiced varying degrees of concern about America’s ability to combat another financial meltdown 10 years after they played prominent roles battling the last one.
While agreeing that the banking system is a lot stronger than it was back then, they saw some weak spots in the country’s crisis-fighting arsenal that didn’t exist a decade ago. The trio also decried the nation’s ballooning budget deficits in a joint briefing with reporters.
“We’ve got better defenses against the more mild, typical sets of shocks that happen to economies and financial systems but in the extreme crisis probably less degree of freedom, more constraints than would be ideal,” former Treasury Secretary and New York Federal Reserve Bank President Geithner said.
The U.S. instituted a raft of reforms after the last crisis drove the economy into its worst recession since the Great Depression. Some were designed to fortify the country’s biggest banks and make it easier to shut them down so they wouldn’t have to be rescued by the government if they ran into trouble. Source
Why would we listen to these people about anything with the exception of their pleas from a prison cell? Please keep in mind these are the same people we exposed more than two years ago as being members of an elite group of policy makers known as Group of 30. The current lineup of criminal banking elites hasn’t changed all that much since we first wrote about them, click here to see the entire motley crew I ask again, why would we listen to these people when they are the people directly responsible for the current entanglement we find ourselves?
The former Fed chairman said the U.S. had made “a lot of progress” toward being able to resolve failing financial institutions without having to bail them out.
Paulson basically agreed, with one big proviso. In the midst of a crisis, policy makers may have to provide temporary support so that a collapsing institution can be liquidated over time — even if that proves politically difficult to do.
“It’s nice to have this authority but somebody has got to be prepared to use it and use it in controversial ways,” he said. Source
The arrogance of Paulson is stunning to say the least. He makes it sound as if he was some kind of saving grace when he was in fact the henchman holding the American tax payer hostage at the behest of the Federal Reserve and the too big to jail banks.
As a reminder John Titus, Best Evidence, has documented in painstaking detail how these crimes were perpetrated. When the Trump Tax Reform, for the average tax payer, is rolled back in 2027 we are going to see the full blown nightmare of the actions taken in 2008 by these banking criminals.
The Veneer of Justice in a Kingdom of Crime by John Titus
All the Plenary’s Men by John Titus