Paulson

Interesting info coming out of Paulson's mouth. Probably nothing we didn't know already, but you gotta love how he just comes out and says it. via Clusterstock (http://clusterstock.alleyinsider.com/2008/12/paulson-explains-why-i-let-... )

When Paulson came out today and stated that his earlier plan to save the western world was not working, he offered up a plan "C" (or is it "D") to relieve pressure on consumer credit, scrapping his earlier effort to buy the value mortgage assets.

No matter what happens or what the next plan is here, are the 3 reasons I believe stocks are headed lower.

* Number one: The trend in most all stocks is down. This trend is likely to persist and last longer than most people imagine.

* Number two: There is no plan. The government is floundering and does not have a plan that is going to work anytime soon.

* Number three: We have a lame-duck president, and nothing is going to happen of any consequence until President-elect Obama is sworn in.

"sorry, oh sorry, I got you confused with the other one."

http://www.youtube.com/watch?v=JwnQZFJ8Q3o

Hey Folks,

What are your thoughts on the proposed Trouble Asset Relief Program (TARP) that Hank Paulson continually is banging on the table this past weekend? The chief concern of most people (including myself) are the necessary oversight measures that will be placed into the program and to ensure that the American taxpayer won't be screwed over by purchasing bad debt from banks at overvalued prices.

$700B is too high of a price tag for the American people to receive nothing tangible other than "improved market sentiment."

For more info checkout the following Bloomberg article or the NYTimes article.

http://www.bloomberg.com/apps/news?pid=20601087&sid=a1zdgVfpxvWA&refer=h...

http://www.nytimes.com/2008/09/21/business/21gret.html?_r=1&8dpc&oref=lo...