- Prison Planet.com - http://www.prisonplanet.com -
Paulson: 25% unemployment rate without AIG bailout
Posted By admin On January 28, 2010 @ 5:14 am In Money Watch | Comments Disabled
Ronald D. Orol
Thursday, January 28th, 2010
Facing criticism on Capitol Hill, former Treasury Secretary Henry Paulson on Wednesday defended his decision to complete a $182 billion bailout of American International Group Inc., arguing that the unemployment rate would have risen easily to 25% without the bailout.
“If the system had collapsed millions more in savings would have been lost,” said Paulson, who was Treasury Secretary at the time of the bailout, at a hearing.
“Industrial companies of all size would not have been able to raise funding and they would not have been able to pay employees, this would have rippled through the economy.” Lawmakers grilled Paulson, arguing that government officials failed to obtain concessions for taxpayers.
“When the people find they can vote themselves money, that will herald the end of the republic.” – Fall Of The Republic – Buy the DVD here 
Article printed from Prison Planet.com: http://www.prisonplanet.com
URL to article: http://www.prisonplanet.com/paulson-25-unemployment-rate-without-aig-bailout.html
URLs in this post:
 MarketWatch : http://www.marketwatch.com/story/paulson-25-unemployment-rate-without-aig-bailout-2010-01-27-131520
 Flashback: Paulson Threatened Great Depression, Food Riots To Get Bailout Bill Passed : http://www.prisonplanet.com/paulson-threatened-great-depression-food-riots-to-get-bailout-bill-passed.html
 Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html
 Paulson Says U.S. Was ‘Close’ to Financial Collapse: http://www.prisonplanet.com/paulson-says-u-s-was-%e2%80%98close%e2%80%99-to-financial-collapse.html
 Conflict Of Interest? Report Says Goldman Sachs ‘Among Biggest Beneficiaries’ Of Paulson’s Bailout: http://www.prisonplanet.com/conflict-of-interest-report-says-goldman-sachs-%e2%80%98among-biggest-beneficiaries%e2%80%99-of-paulson%e2%80%99s-bailout.html
 Paulson Asked to Testify at AIG Bailout Hearing With Geithner: http://www.prisonplanet.com/paulson-asked-to-testify-at-aig-bailout-hearing-with-geithner.html
 MSM Ignores Hidden Carbon Tax Provisions in Paulson’s Bailout 2.0: http://www.prisonplanet.com/msm-ignores-hidden-carbon-tax-provisions-in-paulson%e2%80%99s-bailout-20.html
 Stearns Crucifies Paulson On Bailout Bait And Switch: http://www.prisonplanet.com/stearns-crucifies-paulson-on-bailout-bait-and-switch.html
Copyright © 2013 PrisonPlanet.com. All rights reserved.