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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
MarketWatch [1]
Thursday, January 28th, 2010

Flashback: Paulson Threatened Great Depression, Food Riots To Get Bailout Bill Passed [2]

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 RepublicBuy the DVD here [3]

Paulson: 25% unemployment rate without AIG bailout  FOTR 340x1692 [3] 

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URL to article: http://www.prisonplanet.com/paulson-25-unemployment-rate-without-aig-bailout.html

URLs in this post:

[1] MarketWatch : http://www.marketwatch.com/story/paulson-25-unemployment-rate-without-aig-bailout-2010-01-27-131520

[2] 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

[3] Buy the DVD here: http://infowars-shop.stores.yahoo.net/faofreprofba.html

[4] 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

[5] 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

[6] 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

[7] 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

[8] Stearns Crucifies Paulson On Bailout Bait And Switch: http://www.prisonplanet.com/stearns-crucifies-paulson-on-bailout-bait-and-switch.html

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