[Tyler_JC]

...why would anyone expect a Republican appointee to stay on to a likely Democratic administration?

Does anyone expect Condi Rice to remain as Secretary of State?

Even if McCain gets elected, it seems likely that he would want to replace the current cabinet with his own people. At the very least, he wants to give the illusion of change.

[pup55]

Translation:

I have much better things to do, and can earn a lot more money on Wall Street if I walk away from this mess while I still can.

I am pretty sure Ben and I can hold the system together between now and then if we pour in enough borrowed money. Beyond then... not my problem.

Frankly, I only did this out of patriotism, plus I owe some old friends some favors, so I walked away from 7 figures for a couple of years and took the job. Boy, what a joke. Since taking the job, I have got nothing but flak from the media, the administration stabs me in the back daily, and I am using up every drop of my global credibility by being a shill for these guys.

Live and learn. Anyway, no matter who gets elected, one of my former Goldman Sachs co-workers will be named the new Treasury Secretary, so I am not too worried about it.

See ya....
Hank

[Ferretlover]

The Treasury chief wants to first measure the economic effects of the initial round of rebate checks.
From Times Wire Services 11 Aug 2008
WASHINGTON -- U.S. Treasury Secretary Henry M. Paulson said Sunday that he wouldn't rule out a second stimulus package but first wanted to gauge the effects of rebate checks already sent out.

He said on NBC's "Meet the Press" program that he was taking a wait-and-see approach on a possible second round of economic aid, an idea that congressional Democrats are pushing to a vote.
House Speaker Nancy Pelosi (D-Calif.) plans to have the House vote on additional aid when lawmakers return in September from summer vacation. She believes that more is needed to counter higher gasoline prices and other costs. …
A second check?

[wisconsin_cur]

I have purchased or split all the heat that I need for this winter (and probably next) so whether Paulson wants to send me some money to ump start the economy or Obama wants to give me some to offset heating bills (or both ), it is alright with me.

Daddy has some bills to pay off and a barn to finish!

[kevinr]

Will this be another take from the rich and give to the poor stimulus check? The last "stimulus" check served as was monetary distribution. All of the U.S. citizens are on the hook for the national debt, however you only get a check if you make "this" much.

[wisconsin_cur]

$this->bbcode_second_pass_quote('kevinr', 'W')ill this be another take from the rich and give to the poor stimulus check? The last "stimulus" check served as was monetary distribution. All of the U.S. citizens are on the hook for the national debt, however you only get a check if you make "this" much.

[Micki]

The news got me worried..., but these people assured me that there is no problem.
Now where is that remote, so you think you can dance starts in two...

[mgibbons19]

As long as they're going to destroy the currency, might as well help me pay down my debt in the process.

[Cashmere]

Marker.

[heroineworshipper]

Prices rose 25% since the last printout so obviously another 25% in printouts is required.

[Jotapay]

I want some this time.

I got no 'free money' last go round.

[BigTex]

Paulson is scared of deflation. No other reason to even think about something this apparently stupid.

Stimulus checks are one way around depending upon banks to lend the easy money provided by the Fed (especially if no one could pay back even a 0% loan).

As for just adding to the national debt, what's new? The whole thing is a confidence game in the first place. Increasing levels of debt at all levels is an assumption on which the whole system is structured.

Every wonder why Paulson looks so worn out all the time? He's been living in this house of cards his whole life. Goldman Sachs is like the Pulte Homes of card house builders.

[hironegro]

$this->bbcode_second_pass_quote('kevinr', 'W')ill this be another take from the rich and give to the poor stimulus check? The last "stimulus" check served as was monetary distribution. All of the U.S. citizens are on the hook for the national debt, however you only get a check if you make "this" much.

[Cashmere]

I think we should adopt the Cashmere tax system. In this system, you don't pay any taxes throughout the year. Instead, you keep your money until year end, and then the government tells you where your tax money is going. It will be done regionally to minimize travel.

Then, you take your tax money, in the form of cash, and you hand deliver it to the end user.

Guy A takes his 5 grand in taxes and goes down to the local pentagon office where he hands over his cash and is shown the spent nuclear tank projectile that he has purchased.

Guy B walks downtown and gives his 3 grand in taxes to the "poor" lady with 3 kids by three different fathers. He notes that she is 100 pounds overweight, each kid is 50 pounds overweight, and each has a 200$ cell phone.

Guy C, the "rich" guy, walks into the Department of Homeland Spying and hands his 70 grand to some guy at a desk who, coincidentally, is looking over Guy C's phone and Internet records.

Guys D-G stop on the highway and hand their combined 45 grand to the guy with the orange vest working the walkie talkie. And so on.

With regard to the current Stimulus check, Cashmere makes too much money, which puts him in the "gunnuh pay" category of the stimulus. So, to streamline the system, let me know if you live close to me, and I'll stop by in person with the cash.

Preferably, I'd like to see you spend it on a big TV, like the guy on the other thread who is PO aware but thought it important to offer a thread on his conundrum as to whether he should buy now for credit or wait until he scrimped up enough cash before he bought the monster plasma.

[idiom]

That is some serious despair.

Go blow something up. It always makes me feel better.

[sittinguy]

Cashmere, you crack me up.
Maybe instead of cash they should just do a wish list and they will just send you the item you would have spent the money on directly. I spent mine on race tires, I'll take a few more. Imagine how much weed and crack they would have to send out

[efarmer]

Two stimulus checks in one election year? Way cool.
I think I will buy Park Place and Boardwalk with mine
and put a hotel on each one. Nancy and Hank can stay
in the penthouse anytime they wish and let them know
they both have $200 coming for passing Go again.
Next year, let's say we use some real money and
shoot craps instead of the board games.

[mattduke]

$this->bbcode_second_pass_quote('', 'T')reasury Secretary Henry Paulson, the man who said that subprime was contained and that the Bazooka in his pocket would never be used, now assures us that the bailout of Fannie Mae and Freddie Mac will be costless to taxpayers. Despite the near euphoria that the plan has sparked on Wall Street, the move will go down in history as the biggest policy blunder of all time, and will be credited as a pivotal point in the financial collapse of the American economy. The ultimate cost to Unites States citizens will be in the range of hundreds of billions of dollars, perhaps more.

The original idea that gave birth to Freddie and Fannie, which is to make housing more affordable to average Americans, should now be seen as farcical. Their new goal is to keep housing prices high. Absent Freddie and Fannie, housing prices would fall sharply and the mortgage market would stabilize. Americans would once again be able to buy affordable houses with mortgages they could actually repay –just like their grandparents did. Instead they will keep overpaying for houses, burdening themselves with excessive payments in the process, and ultimately sticking taxpayers with the bills when they default.

[mefistofeles]

Lol he sounds like Chamberlain right before the start of WWII: "Peace in Our Time"

In most crisis situations when people tell you how the crisis has been avoided or will be avoided it usually means just the opposite.
The wolf is upon us.

[heroineworshipper]

After printing $600 billion in July, there was not enough inflation in August to cover housing costs, so another $200 billion had to be printed. In October another amount will be printed.