Topstockblog

Blogging to add value. Sharing and discussing helpful websites, money, stocks, etc.

Paulson might just be a fraud of Wall Street, More concern for the long term potential rahter than profit margins.

Secretary Paulson (Updated 10/08/2008) has advised the buying of bad debt from rich bond holders.  To avoid worse consequences in the future for the economy. This is a direct violation of capitalist principles of allowing debts that are noncollectable to be declared worthless. George Bush purchased $25 Billion dollars in bad car loans. He is neglecting his duty to represent all Americans equally. America should have said no to this bailout in Topstockblog’s opinion.  America is already been burned once by Paulson buying bad debt.   Paulson the former head of Goldman Sach’sthe merger king of the world a certainly collapsible industry as it serves to concentrate, and isolate capital by the process of mergers.  Paulson’s actions do little or nothing for average, and poor Americans in Topstockblog opinion.  America deserves a shared ownership with corporations creating an opportunity to greatly lower taxes.  The rich who own bonds; not, average hard working Americans.  Many of the rich to benefit from the current buy out of bad debt are foreigners. The children of America should not receive more bad debt.   I apologize, and sympathize with unfortunate holders of bad debt in retirement funds. More unrecognized bad debt added to the national debt is a bad idea.

Entertainment, and educational purposes,

September 19, 2008 Posted by | American Politics and Policy Ideas | , , , , , , , , | Leave a comment