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Paulson: 'We Have Done What Was Necessary'

Here's the full text of Treasury Secretary Hank Paulson's testimony that he's giving right now before Rep. Barney Frank's (D-Mass.) Financial Services committee.

"There is no playbook for responding to turmoil we have never faced," Paulson is saying. "We adjusted our strategy to reflect the facts of a severe market crisis always keeping focused on Congress's goal and our goal – to stabilize the financial system that is integral to the everyday lives of all Americans."

-- Frank Ahrens

The Ticker is Twittering!

By Frank Ahrens  |  November 18, 2008; 9:56 AM ET
Categories:  The Ticker  | Tags: Paulson, bailout  
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Next: Frank Calls Out Paulson In Hill Hearing


“If money is wanted by Rulers who have in any manner oppressed the People, they may retain it until their grievances are redressed, and thus peaceably procure relief, without trusting to despised petitions or disturbing the public tranquility.”

1774, Journals of the Continental Congress, 1:105-113


The following Petitions for Redress of Grievances were first formally served on the Government of the United States in November, 2002

To this date, the US government has refused to respond.

The Petitions are currently being updated to reflect current circumstances and demands upon Government officials (March, 2008)

We have continued to add Petitions and will record signatures on the Petitions until further notice.

SIGN The Petitions For Redress:

- Abuse of War Making Authority
- Abuse of Rights by the "USA Patriot Act"
- Abuse of Taxing Authority
- Abuse of the Money & Banking Powers
- Abuse of Right to Keep & Bear Arms
- Abuse of Right to Controlled Borders
- Abuse of National Sovereignty (no NAU)

The people are the source of all political power, and all of government is limited by our state and federal constitutions. However, the constitutions do not defend themselves; they just sit there. Citizens must defend constitutions against unconstitutional acts by those wielding governmental power.

The most pernicious form of tyranny is that which disguises itself as a benefactor to its victims. An act of tyranny anywhere is a threat to freedom everywhere. Every unlawful act committed by the government -- whether at the local, state or federal levels -- is an act of tyranny, and we, as responsible Americans, have a duty to maintain vigilance and to respond to acts of governmental tyranny in order to preserve, protect and enhance our rights, freedoms and liberties. As Jefferson repeated, "The price of freedom is eternal vigilance … the eye of vigilance should never be closed… when the government fears the people you have liberty; when the people fear the government you have tyranny."

Posted by: AJAX2 | November 18, 2008 1:26 PM | Report abuse

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