9.24.2008

Newt Point

from a transcript of a Newt Gingrich appearance [full transcript]:

NG: I mean, this is, look, there’s a proposal in the Congress which liberal Democrats love to allow bankruptcy judges to rewrite contracts. Now that would be the end of contract law in America, and the end of the rule of law. And it would mean you had trial lawyers shopping for judges, and every agreement you ever made to loan money or invest money would be potentially changeable at the whim of a judge. And it would be literally a crippling impact on the entire American economic system. And yet these guys are so into litigation and so into paying off their lawyer friends, that they have no idea the level of damage they’re going to do. And in Paulson’s case, you know, the chairman of Goldman Sachs are trying to bail out his friends on Wall Street, and he wants $700 billion dollars of your money with no accountability, thank you very much.


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Quotations from Chairman Varones

There are very few financial problems that can't be solved by a suitable application of asset bubbles.