Masthead graphic based on a painting by Gudrun Thriemer.

Thursday, September 25, 2008

Helena Cobban, "Financial crisis, leadership, and governance," Just World News, September 25, 2008.

  “The U.S. will lose its status as the superpower of the world financial system.... The world financial system will become multipolar.”
Peer Steinbrück
German finance minister
To the Bundestag

Nobody elected Hank Paulson. Prior to being named US Treasury Secretary in March 2006, he was the CEO of Goldman Sachs, so his credibility as someone who has the interest of the whole citizenry first and foremost in his mind is not necessarily high. We did, however, elect George W. Bush to be President, back in 2004. He is the one who has to be held responsible for the actions of all members of his administration, who answer to him. That certainly includes Hank Paulson.

So if the country's financial system is in such a dire situation that it will take $700 billion of taxpayers' money to sort it out, shouldn't it have been the president who told us about that last Friday, at the point when the bailout decision was first announced?

The rest includes linked quotes from responses to the President's speech here =>
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