Besides "future administrations" the things that got us here were things like Henry Paulson, who cashed in his ill-gotten, securitized-mortgages-based Goldman Sachs stock worth $500m TAX FREE to take his present job which includes raiding the US Treasury for more "capital" to feed George Bush's power base.

These criminals didn't "let" the system exist, they designed it for their own profit.

And who says the taxpayers are "on the hook?" Let's use the hook on Paulson instead, or is firing this guy off the table like everything else except bombing Iran.

The old past, present, future linear thing is so pre-9/11. We can already say that much of this will have been President Obama's fault. Just as the failure to turn over a glistening, affluent, democratic Iraq will have been President Obama's fault.

Wow! That's some impressive buck-passing. I wonder if it'll be ok at work to blame "future bosses" for any problems?

Seriously, I wonder if his comment is an accidental prediction on the presidential election?

Outrageous, outrageous, outrageous.

Absolutely OUTRAGEOUS!

Secretary Paulson's Freudian slip -- about future administrations having already let exist the same criminal situation that exists now -- clearly shows that Secretary Paulson expects that nothing in his current demands for obscene amounts of money and power will change anything whatsoever about the corrupt system that he has already gamed for fabulous wealth and privilege -- and fully intends to go on gaming again in the future. Out of the mouths of babes, indeed, comes the truth of things.

I saw it more of a misspoken phrase in a difficult role and not a political jab. I assume that he was inferring that the problem is going to be an overriding problem for any new administration and that the big job is not the decision of the money but the necessary overhauling of the entire industry. I think it is obvious, as he professed, the proof will be in the new regulations. Is he just being savvy knowing that nothing but symbolic changes will happen before the holidays and the new White House. The Entire Capitol will be passing the big buck until later - giving us a few IOU's to whitewash the lack of regulatory oversight by everyone - there lies his sincere anger.

Please tell me if I am wrong, but it has been Paulson's lonely voice, who has since he got there 1.5 years ago, that has been making a fuss about lack of oversight and inequities. As far as passing the buck - what exactly has the Administration or the Congress done? It is Congresses responsibility to regulate and sell those regulations as fair and necessary. Because of politics, Bush was given the lead, which makes me angry when I see our Representatives' Indignation over the bailout when it happened on their watch and their lack of political ability. How quickly I tire and grow angry over the newest catchphrase that everyone tries to own - the latest one being looking after main streets. I wish they would just get to work and save the pompous hometown flag waving that everyone is guilty of.

I certainly not an expert on Paulson's character, but after watching him on TV for what seemed like 20 hours yesterday, he has been the best Executive representative that has been sent to the hill. I may be wrong, but he came across as an industry and capitol wonk who truly assigns a personal pride from the banking and finance industry. And there was sincerity and ownership in his beliefs. Maybe I was duped, but I don't see him accepting another political role in this administration. That's why only after yesterday did I believe the quick cash is necessary and the threat of a Wall Street Freeze is real and we were almost there Thursday as the stories go.

Does anyone know if there is an institutional formula that automatically shuts things down - or is it more of a board decision? It was a sobering realization that I and most everyone else, most shockingly most in DC, have absolutely no idea how such a definitive measure of our society just rumbles along and only receives attention when something horrible happens, and it is too late.

We certainly have neglected those necessary studies of philosophy, ethics, economics like any good Classical American Renaissance Citizen should develope. Is this too much to ask? I would imagine most households ignorantly don't even understand their mortgages, their most intimate investment - can we also ask that they understand the financial institutions that keep there communities healthy?

I see this as a classic Freudian slip. The Republicans have the greatest possible gap between what they say and what they do. The only reason for their political success is the vast build up of right wing radio rabble rousers, the corporate takeover of the MSM, and political architects such as Karl Rove who calulated, quite cynically, that if he could package a candidate to look and sound like a country and western star, biblical phrases easily slipping off his tongue, that they could prevail at the polls, handily. And he was right. They did the same thing with Ronald Reagan, whom they got from central casting. Reagan might as well have been selling Quaker Oats with his 'morning in America' bullshit.

Reagun, and W never set policy. They were the brand image on the product. But they did not craft the product. Both times the gates to the public treasue were thrown wide open. Both times an enormous kleptocracy emerged. These people do not believe that government can do any good--that is why they have no compunction to suck it dry. It's what the government, and the people, deserve. If it all breaks, all the better. They make money on calls, they make money on puts. They do not take the notion of public policy seriously. These people have a profoundly amoral set of sensibiities.

Listen to Paulson. If we constrain the golden parachute, distressed financial entities will have no incentive to accept the taxpayers offer of help. Say What?!? Wrap your mind around that fact. Doesn't it tell you everything you need to know?

These people are not to be trusted. They are engaged in the sacking of Rome.

this reminds me eerily of all of the Republicans who are crowing the Rush Limbaugh lines that Obama WILL raise the taxes for the middle class! (they don't specify whether he is going to raise our taxes before or after he cuts them), and Obama will "ruin our economy with tax and spend policies." I want to know what part of our economy hasn't already been ruined by Bush, is what I would like to know. Sometimes I feel like the Republican loyalists live in some sort of bizarro world where they repeat in mirrors to themselves "I'm rubber, you're glue!"

"That's why only after yesterday did I believe the quick cash is necessary and the threat of a Wall Street Freeze is real and we were almost there"

I would buy this "immediate instant freeze at any moment now" ploy much more readily if either one of these guys--Paulson or Bernanke--had offered so much as a simple minded "instant freeze for dummies" explanation of how it is about to happen. They knew they were on the tube. They knew they had to sell it. Our Senators told them they need to sell it.

All they had was stuff like "ooh-ooh you won't be able to get a car loan." Well, in the words of our Vice President: "So?"

If we're supposed to hand over $700 billion, I want to hear the real explanation of how these high flying institutions have effectively put themselves out of business.