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Author: TMFTomG Big red star, 1000 posts Old School Fool CAPS All Star Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: Re: Help Me Understand Date: 9/26/2008 12:14 PM
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I have now read all 574 posts, and I plan to continue reading the notes here posted through the weekend.

As always, I have learned a tremendous amount from our community of Fools.

In co-founding this company, I wanted everyone to have a public voice, a platform for their ideas, a place to share their financial insights.

I am never expecting agreement in a community of opinionated Fools. There is no unanimity in any folder in Fooldom.

I will say that I've been surprised by how truly negative is your collective take on the Paulson Plan.

I will also say that I've learned a tremendous amout from many of you, whether you side with or against this plan.

As I wrote in a previous note, my core beliefs are two:

a) Having no plan but to let these banks falter is a dangerous game. When banks topple and confidence vanishes, the effects on the end consumer can be chilling. I think anyone who suggests we simply let the markets take care of this should take a half hour to Google and read about both the Great Depression and about life in Japan in the 1990s;

b) Having a plan that does not explicitly aim to make the taxpayer whole is unacceptable. The investment risk is going to be shouldered by the taxpayer. . and the taxpayer should be rewarded in the event the risk plays out in their favor (which I strongly believe it will -- after all, remember that this is a liquidity crisis not a crisis of insolvency);

The US has a triple-A credit rating, with the resources to step in, fix the problem, and take a *TEMPORARY* financial stake on behalf of the taxpaying investors. Further, I believe that Paulson has the capabilities and people to make the right financial decisions on behalf of the taxpayer.

Now, I will go back to clicking and reading and learning. Thank you to everyone for sharing your thoughts -- even when they disagree with mine. Best,

Tom Gardner
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