16 Nov 2008

Issa Slips Up

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This is great. Congressman Issa was grilling Neel Kashkari, playing up his outrage for the cameras at the Paulson bait & switch. But lo and behold, in his tantrum, he lets slip that the original plan was for Treasury to spend half of the money buying troubled assets from foreign institutions. In case you have forgotten, that was never part of the official plan. Some cynics and people in the know were saying that that would be the actual result, but certainly Paulson & Bush didn’t tell the American people, “We need you to lend us $350 billion so we can bail out foreign speculators.”

This guy Denninger sounds a bit goofy at first, but I think he is spot on (except for his grammar). HT2EPJ.

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