Republican Senator Jim Bunning from Kentucky just asked paulson during the Senate Banking Committee meeting, “Why is the government bailout going to include student loan and credit card debt? How does that fix the housing problem?”
Good question. paulson danced around, stumbled about 300 times, and finally sort of admitted he didn’t have an answer. No joke – it was REALLY embarrassing to watch. He sounded no smarter than bush and that’s scary seeing that paulson is heading up this $700 billion bailout that seemingly hasn’t been well thought out.
I’m never tuning into CNBC via the Slingbox during my lunch hour again. I will try to find a video tomorrow on youtube so y’all can see how bad things have gotten.
As seen in the above link, Senator Bunning went on to say…
“The Paulson plan will not fix [these] problems; the Paulson plan will not help struggling homeowners.” Bunning continued, saying the bailout out would do nothing but “prop up and clean up the balance sheets of Wall Street. It is a financial socialism and it’s un-American.”