Sorosoros

JOE THE PLUMBER'S MAGIC MONEY MACHINE FROM THE GREAT RECESSION BY DAVID ARTHUR WALTERS Business was down for Joe the Plumber. So far down that he had to lay off three of his Mexicans. Alas, if things did not get way better soon, which was highly unlikely, it appeared that he would be making somewhat less than $250,000 in 2009, so he decided that he and his wife Jenny must vote for Barrack Obama because the suave candidate had promised he would cut taxes for everyone making less than that handsome sum. As for the $250,000 Joe the Plumber had stashed away in his basement hiding place, being his earnings net of the funds he had deposited in his bank to pay expenses, he decided he would do the patriotic thing and report it and whatever else he might net until the end of the year on his 2008 tax return. Furthermore, Joe the Plumber would put the cash in his old, green toolbox Monday morning and take the money to the bank and deposit it. At least the whole amount would now be safe in the...

Mr. Paulson announcing he changed his mind about buying toxic mortgage assets THE PAULSON SALVATION PLANS by David Arthur Walters It was certainly fascinating to see presumably rational experts relying on the fluctuations of the so-called wisdom of a volatile stock market to influence their judgments. When the indexes plummeted after Henry Paulson’s original asset management bailout bill was voted down, Congress hastily took up the bill again and modified it for quick approval, providing pork barrel incentives such as relief from taxation on children’s wooden arrows. Why, then, did the efficient stock market indexes fall, after the modified bailout was approved by congress? Perhaps the Stock Market read the International Monetary Fund’s September 2008 Working Paper, ‘Systemic Banking Crises: A New Database, prepared by Luc Laeven and Fabian Valencial. One might reasonably presume that bailout mastermind Henry Paulson, U.S. Treasury Secretary and member of the Board of Governors of the ...