Message Font: Serif | Sans-Serif
No. of Recommendations: 14
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
Print the post  


When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.