Nov. 12, 2008
I just can't tell you how many proposals I've looked at to modify mortgages and keep people in their homes...This is a very complicated area. There are no easy answers."
— Treasury Secretary Henry Paulson, Nov. 12
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November 12, 2008; 5:09 PM ET
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Posted by: mhhaggard | November 14, 2008 11:30 AM | Report abuse
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Yet he knew that he needed $700,000,000,000.00 of taxpayer money to throw at the problem with no certainty that our economic problems would be helped in any way.
To this point it appears that all of the money that has been "invested" has gone towards assuring the survival of the very institutions that enriched their executives in the course of creating this problem. No jobs (outside of the financial sector) saved. No homes saved from foreclosure. No effect on the continued erosion of home values.
It is time that the taxpayer's money was used to help the people instead of the moneychangers.