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Author: spelljammer Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 1568  
Subject: The Paulson plan is a joke Date: 9/25/2008 9:27 PM
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Why would the Motley Fool and Tom Gardner step in to this and recommend the Paulson plan? Are you seriously recommending that we go with a 3 page plan that:

1. Has no discussion on price discovery (I guess we'll just way over pay)
2. Has little or no oversight (let's hand our money over to the same frauds who created this problem)
3. Has no plan for triage (which banks can be saved, which should be liquidated)
4. Picks some arbitrary number as a bailout number without any justification (why $700B, why not more or less, how was this number chosen)
5. Has no discussion on how this would be paid for? Or where we would get the money from.

I could go on. If you want to do something helpful then recommend a real plan, not handing over $700B to the same group of neocon idiots who have been lying to us about the problem (it's well contained) or and who put us in this spot to begin with (moral hazard bailouts, lack of oversight, loosening of rules to allow more leverage, removal of depression era rules without replacing them with something fitting, lack of regulation on the CDS and derivatives markets)

Give me a break.

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