Paulson Gave Hedge Funds Advance Word During Financial Crisis???

Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (Full Version)

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Lucylastic -> Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (11/29/2011 9:28:02 AM)
http://www.bloomberg.com/news/2011-11-29/how-henry-paulson-gave-hedge-funds-advance-word-of-2008-fannie-mae-rescue.html Hey what now??? according to a bloomberg article.... Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co. (JPM) Now, amid tumbling home prices and near-record foreclosures, attention was focused on a new source of contagion: Fannie Mae (FNMA) and Freddie Mac, which together had more than $5 trillion in mortgage-backed securities and other debt outstanding, Bloomberg Markets reports in its January issue. Paulson had been pushing a plan in Congress to open lines of credit to the two struggling firms and to grant authority for the Treasury Department to buy equity in them. Yet he had told reporters on July 13 that the firms must remain shareholder owned and had testified at a Senate hearing two days later that giving the government new power to intervene made actual intervention improbable. “If you have a bazooka, and people know you have it, you’re not likely to take it out,” he said. read more!!!

SternSkipper -> RE: Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (11/29/2011 3:37:10 PM)
quote: Hey what now??? according to a bloomberg article.... Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co. (JPM) Well that would explain why Bush picked the guy... good TEAM player even when the police cars are being warmed up for the raid. What I am still wondering is why Obama didn't let him stay on for so long. Guess we'll have to wait for the presidential memoirs ... it certainly won't come from a Paulson 'tell-all'.

willbeurdaddy -> RE: Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (11/29/2011 4:31:10 PM)
quote: ORIGINAL: SternSkipper quote: Hey what now??? according to a bloomberg article.... Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co. (JPM) Well that would explain why Bush picked the guy... good TEAM player even when the police cars are being warmed up for the raid. What I am still wondering is why Obama didn't let him stay on for so long. Guess we'll have to wait for the presidential memoirs ... it certainly won't come from a Paulson 'tell-all'. Because the bailout was Paulsons and the Dems plan, not Bush's. Of course Obama kept Paulson and HeliBen.

MrRodgers -> RE: Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (11/30/2011 4:32:14 AM)
quote: ORIGINAL: willbeurdaddy quote: ORIGINAL: SternSkipper quote: Hey what now??? according to a bloomberg article.... Treasury Secretary Henry Paulson stepped off the elevator into the Third Avenue offices of hedge fund Eton Park Capital Management LP in Manhattan. It was July 21, 2008, and market fears were mounting. Four months earlier, Bear Stearns Cos. had sold itself for just $10 a share to JPMorgan Chase & Co. (JPM) Well that would explain why Bush picked the guy... good TEAM player even when the police cars are being warmed up for the raid. What I am still wondering is why Obama didn't let him stay on for so long. Guess we'll have to wait for the presidential memoirs ... it certainly won't come from a Paulson 'tell-all'. Because the bailout was Paulsons and the Dems plan, not Bush's. Of course Obama kept Paulson and HeliBen. It was the Bush & repubs who created, supported, protected and allowed the whole financial meltdown to occur. TARP was a total repub (Bush) creation and Paulson is an insider, a single main reason wall street exists. Revising history even on such mundane as to who needed or wanted Paulson does not work. Paulson (Bush's sec. of treas.) left immediately after the election transition resigning 1/19/09. But Obama, being a puppet like them all, hired 'wall street' again to manage our treas.

Politesub53 -> RE: Paulson Gave Hedge Funds Advance Word During Financial Crisis??? (11/30/2011 5:45:11 AM)
quote: ORIGINAL: willbeurdaddy Because the bailout was Paulsons and the Dems plan, not Bush's. Of course Obama kept Paulson and HeliBen. So there was no bailout Prior to Obama taking office, especially in October ? Are you seriously suggesting the bailouts under Bush, and not just in 2008, never took place ?

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