BUSH-PAULSON RUN THE CLOCK ON AUTO INDUSTRY WORKERS, MUNI BOND HOLDERS
Paulson's on television talking a good game, telling people that he's concerned about autos.
Last time he was gravely concerned, he was up on the Hill within days with a 3-page plan that required action 'before the markets open in Asia'.
Now, we are faced with him continuing to bury his obligation to bring meaningful loan modification relief in ongoing "study" as well as stalling on auto relief spending.
FED READY, TREASURY SITS ON HANDS
Yesterday, the Fed promised it was ready to monetize, like, the entire economy. How's that for a sense of urgency?
Meanwhile, by contrast, Bush and Paulson maybe want to wait to see if GM makes it to year end, so they can score points or something. Who knows what's really holding them up, other than providing the Congress one day to vote on their proposal, before Christmas...
Wednesday, December 17, 2008
Paulson's Forked Tongue
