when upholstered first %uh put this out that was was a couple of the battles the
motions ready for this
now they say liao
he can't be just the u_s_ diabetics
person when a worldwide system
so we're going to bailouts
of all of the major banks including ones in switzerland
for many
hong kong
to which i think
why is the united states taxpayer
purely a bailout of george m
or the united bank of switzerland
i know why they were all interconnected right either sam
but the same time values
only the united states paying for now bushes she was a snow we've asked a
coalition of the willie to check that the bath or anybody can say to adhere
databases i got three spot yet but i think that what i think we promise to
pay
and that is a lot of fun little provisions
%uh before it was just the mortgage s is not only
it's a little are restricted you know what we like
we'd like to be all
bad loans
policy whether preside
we the united states tax-free
were supposed to pay for all the bad loans
there the banks in the world
you would have to be mentally
did reader
paddy
no way no one jalan not even close
so now the democrats are
arguing with the republicans as to what how we should restructure this bailout
and they have some very sensible solutions
and they say listen first of all we're taking is a good conversation away from
them
%uh we might you get equity in return for this and paul krugman of the new
york times
pointed out it's a very good idea chris dodd
this question four days democratic senator from connecticut
but they do expertise on this there are a number of things they put it is for
vision haev relief for homeowners but you might find sensible and that is to
have a lot better than the original proposal
and this a moment where governor how frustrating is that the democrats
different times
debate will think either of these democrats in congress because of the
republican just passes atrocities right where we would've gotten stocked with
the bills obey or the bad loans any bank has ever made audiences saint even
consider
now having said all that
even with all the democratically problems als that weekend at the place
i still say no
he'll have no idea i i i call my banker
by that discipline is bill me out
as i said novia
well we should know this field
under even the democratic proposal
why should i pay the bill
of united bank of switzerland
because they've made %uh long's that were far too risky
none none none no no no no no
not by not going to do it
%uh but it is my favorite little part as a learning here before we or entities
bombed
the voices
let and republicans the incarcerated and is still based on this provision
this you know that we can
takeaways agar compensation so for example effect fannie mae and freddie
mac when we took them over
%uh we said you're not going to get your golden parachutes which was cool to over
twelve million dollars
that this email is a screwed up the company we're gonna get
as they were leaving
he said they only got nine million dollars now what we want to democrats
want to say it's look if you screwed up your company's you come to the
government for help we're not going to give your golden parachutes we you make
tens of millions of dollars for being fired
right for that we're doing a terrible job
you know publishing over our dead bodies
they have to make them millions of dollars
to stand up tall account
and pile of this part of it
bush says this is not a time for punitive measures
mister bush
i get this to say the your couldn't be more wrong
exactly
the time for punitive measures
you want you to come to me and said
no give me a couple million dollars patagonia
about no i'd give you nothing could be a you're out
you give me something for me to tell you that you agree to my conditions
dot another major condition bhai probably about
house so mad
contents of the
and henry paulson lowcountry sectors as
no but you know i understand jerry
this is not a luck these companies won't play ball
we don't give them the executive compensation
week you telling me they're not gonna take video unless they get paid off tens
of millions of dollars apiece
bokram then don't think that you don't have a situation was not back
why should i bribed with millions upon millions of dollars these c_e_o_'s who
scored the whole thing up because in this as place the first and the
situation the first place