More Quotes on Financial Markets Meltdown
Posted by feww on September 25, 2008
submitted by a reader
What People Say about Rewarding WS Thieves
Mr Warren Buffett:
The rescue plan is “absolutely necessary” to avoid an “economic Pearl Harbor.” [Which version of the Pearl Harbor account do you believe in, Mr B?]
Mr George Soros:
“Now that the crisis has been unleashed a large-scale rescue package is probably indispensable to bring it under control. Rebuilding the depleted balance sheets of the banking system is the right way to go. Not every bank deserves to be saved, but the experts at the Federal Reserve, with proper supervision, can be counted on to make the right judgments.” [And no, it wasn’t their “proper supervision” that got them into this mess in the first place?]
US Federal Reserve Thief [Chief?] Ben Bernanke:
“Act quickly!” Support the proposed $700bn bailout of the financial markets, or risked “serious consequences.” [Would you still keep your job, if that happened?]
President [sic] GW Bush:
“Given the situation we’re facing, not passing a bill now will cost these Americans much more later.” [What’s this got to do with passing?]
Henry Paulson, Treasury Secretary
Mr Paulson told the House Financial Services Committee that the bailout was about “benefiting the American people, because today’s fragile financial system puts their economic well-being at risk.” [Could you say that again, this time meaningfully?]
Sens. McCain and Obama:
“This is a time to rise above politics for the good of the country,” [and sit down again?]
The brown biscuit went to Jack Welch, of course!
Jack Welch, Former General Electric Co Chairman and CEO:
Making the “deep downturn” sound inevitable and scaring the hell out of the business world by saying the first quarter of 2009 will be “brutal,” unless of course the proposed $700 billion government rescue package for Wall Street was approved, Welch said:
“I am now caving … Get ready for real tough times. They’re coming.”
Welch praised Henry Paulson, Ben Bernanke and New York Fed President Timothy Geithner, for what they had so far achieved, no doubt, and even called them “brilliant public servants” who have “not let ideology get in the way of taking action.” [Wow! Moderators were left speechless with emotion, tears gathering in their eyes!]
“Thank God we have Bernanke, Paulson and Geithner,” Welch said. “We have to act.” [Who is “we?” Why must “we” act if we have “brilliant public servants” like “thank-god-Bernanke” and his clique?]
Then, as if to strengthen his point, the utter nonsense he was spewing out at the World Business Forum in New York on Wednesday, begging credibility by pretending to be one of “us,” he said:
“We have to look at the damn investment bankers… They’re playing with other people’s money. The only penalty was a cut in their bonus, not their head.” [What about the CEOs, former and present, Mr Welch, should they be awarded compulsory haircuts, too?]
- Steal my money once, shame on you, you’re a thief protected by the Federal Government!
- Steal my money twice, shame on me, I’m a FOOL who doesn’t deserve any money!
- Steal my money again? Just take it, but don’t scare me with the market meltdown ruse!