{"id":5557,"date":"2008-11-12T21:08:18","date_gmt":"2008-11-13T04:08:18","guid":{"rendered":"http:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/?p=5557"},"modified":"2008-11-12T21:08:18","modified_gmt":"2008-11-13T04:08:18","slug":"paulson-translated","status":"publish","type":"post","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5557\/paulson-translated\/","title":{"rendered":"Paulson Translated"},"content":{"rendered":"

After listening to and reading the text from Paulson\u2019s speech this morning, I had to sit down and translate it because there was so much he wasn\u2019t saying and so much that he was saying that was just not \u201cright.\u201d\u00a0\u00a0 I hope that you\u2019ll do two things:<\/p>\n

    \n
  1. Take the time to read the entire thing.<\/li>\n
  2. Make your opinions known – tell me if you think I\u2019m all wet.\u00a0 Talk to others about it, write your local paper, forward a copy of this to others, call your congressman.\u00a0\u00a0 Don\u2019t just sit back and say, \u201cI don\u2019t like it.\u201d<\/li>\n<\/ol>\n

    Here goes:<\/p>\n

    <\/p>\n

    <\/p>\n

    <\/p>\n

    <\/p>\n

    <\/p>\n

    <\/p>\n

    Paulson Translated \u2013 His original speech is in \u201cnormal\u201d type, my comments are in bold.<\/p>\n

    \n

    \n

    Washington, DC \u2014 Good morning. I will provide an update on the state of the financial system, our economy, and our strategy for continued implementation of the financial rescue package. <\/span>Keep in mind that this strategy is subject to change by tonight.<\/strong><\/p>\n

    <\/strong><\/p>\n

    Current State of Global Financial System<\/p>\n

    The actions taken by Treasury, the Federal Reserve and the FDIC in October have clearly helped stabilize our financial system. Before we acted, we were at a tipping point. Credit markets were largely frozen, denying financial institutions, businesses and consumers access to vital funding and credit. He uses past tense verbs, but I\u2019m not sure that isn\u2019t still true. <\/strong> <\/span>U.S. and European financial institutions were under extreme pressure, and investor confidence in our system was dangerously low.<\/p>\n

    \n

    We also acted quickly and in coordination with colleagues We told them who we were going to buy and we all slashed rates together<\/strong> around the world to stabilize the global financial system. Going into the Annual IMF\/World Bank meetings in early October, I made clear that we would use the financial rescue package granted by Congress to purchase equity directly from financial institutions – the fastest and most productive means of using our new authorities to stabilize our financial system. <\/span>Even though that really isn\u2019t what the program was for. <\/span><\/strong>We launched our capital purchase program the following week when we announced that nine of the largest U.S. financial institutions, holding approximately 55 percent of Read more<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    After listening to and reading the text from Paulson\u2019s speech this morning, I had to sit down and translate it because there was so much he wasn\u2019t saying and so much that he was saying that was just not \u201cright.\u201d\u00a0\u00a0 I hope that you\u2019ll do two things: Take the time to read the entire thing. […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_crdt_document":"","jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[251,29,26],"tags":[235,268],"class_list":{"0":"post-5557","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"hentry","6":"category-big-mother","7":"category-group-therapy","8":"category-lending","9":"tag-paulson","10":"tag-tarp","12":"no-featured-image"},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"jetpack-related-posts":[{"id":4611,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4611\/newt-gingrich-kill-the-paulson-plan-hard\/","url_meta":{"origin":5557,"position":0},"title":"Newt Gingrich: Kill the Paulson Plan. Hard.","author":"Greg Swann","date":"September 23, 2008","format":false,"excerpt":"US News:A few quotes and Gingrichian observations: 1) He called it a \"stupid plan\" that looks like it had been designed by autocrat Vladimir Putin. He also said it will be a \"nightmare\" to implement and full of corruption. 2) He said the Paulson Plan would be a \"dead loser\"\u2026","rel":"","context":"In "Group Therapy"","block_context":{"text":"Group Therapy","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/group-therapy\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":5549,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/5549\/the-paulson-clarification-a-tin-foil-hat-production\/","url_meta":{"origin":5557,"position":1},"title":"The Paulson Clarification (a Tin Foil Hat production)","author":"Sean Purcell","date":"November 12, 2008","format":false,"excerpt":"Henry Paulson figured out that buying troubled assets does not help the cause.\u00a0 If you want to own the financial industry you don't get there by purchasing their problems, you get there by purchasing them.\u00a0 (Or at least watching over them with Tin Foil Hat firmly in place.)\u00a0\u00a0 Read the\u2026","rel":"","context":"In "Big Mother"","block_context":{"text":"Big Mother","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/big-mother\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4259,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4259\/how-we-got-to-this-place\/","url_meta":{"origin":5557,"position":2},"title":"How we got to this place…..","author":"Tom Vanderwell","date":"September 7, 2008","format":false,"excerpt":"I promise I won't take up so much space on here after the dust settles, but I'm having a hard time getting my mind around the enormity of what's happening with Fannie and Freddie and what it means, so I figure the best thing I can do is share what\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2397,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2397\/shift-happens\/","url_meta":{"origin":5557,"position":3},"title":"Shift Happens","author":"Sean M. Broderick, CCIM","date":"December 19, 2007","format":false,"excerpt":"First off, I am feeling a little guilty for not being able to keep up with Greg\u2019s writing production, or Geno\u2019s proclivity for the English language (I am, but a young \u201cpadawan\u201d in master Yoda\u2019s presence). That being said, we all have bills to pay and I have been painfully\u2026","rel":"","context":"In "General"","block_context":{"text":"General","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/general\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":4537,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/4537\/will-the-democrats-endorse-hank-paulsons-mortgage-bailout-plan\/","url_meta":{"origin":5557,"position":4},"title":"Will The Democrats Endorse Hank Paulson’s Mortgage Bailout Plan?","author":"Brian Brady","date":"September 19, 2008","format":false,"excerpt":"This Presidential election campaign is exciting to watch.\u00a0 Team Obama benefits from the continued free fall on Wall Street.\u00a0 Sean Purcell reminds us that folks on that side of the aisle like to say \"I'm from the government, we're here to help you\" yet the other side is the one\u2026","rel":"","context":"In "Real Estate"","block_context":{"text":"Real Estate","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/real-estate\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]},{"id":2831,"url":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/2831\/the-real-estate-bailout-act-of-2008\/","url_meta":{"origin":5557,"position":5},"title":"The Real Estate Bailout Act of 2008","author":"Brian Brady","date":"March 24, 2008","format":false,"excerpt":"When successful financiers achieve a certain level of success, they up the ante and practice social engineering. Robert Rubin, Jon Corzine, and Hank Paulson\u00a0 advanced to government service after piling up the pesos at Goldman Sachs (in financial circles, we say those two words with hushed reverence). After decades of\u2026","rel":"","context":"In "Lending"","block_context":{"text":"Lending","link":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/category\/lending\/"},"img":{"alt_text":"","src":"","width":0,"height":0},"classes":[]}],"_links":{"self":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5557","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/comments?post=5557"}],"version-history":[{"count":2,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5557\/revisions"}],"predecessor-version":[{"id":5559,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/posts\/5557\/revisions\/5559"}],"wp:attachment":[{"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/media?parent=5557"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/categories?post=5557"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bloodhoundrealty.com\/BloodhoundBlog\/wp-json\/wp\/v2\/tags?post=5557"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}