[Marxism] Translation of Paulson's Speech on the GSEs

[S. Artesian]

Brad,

Couple of points of disagreement, etc.

Thought JP Morgan took Bear Stearns, Bank of America took Countrywide.

As far as government programs reducing in size:  Yes, absolutely, what 
Paulson is really saying is that this process has come to a screeching at 
halt, and the mortgage and housing industry will stay in deep contraction 
until this debt load is burnt off in what is another form of a leveraged 
buy-out-- utilizing debt to dismantle and liquidate asset values, in this 
case public debt and  negative asset values.

I think the dollar won't collapse.  The dollar will continue to strengthen 
as Europe, Japan, UK economies worsen, and US makes the public the donkey 
for this burden.
----- Original Message ----- 
From: <bauerly at yorku.ca>
To: <sartesian at earthlink.net>
Sent: Monday, September 08, 2008 8:42 AM
Subject: [Marxism] Translation of Paulson's Speech on the GSEs