Hank Paulson's bullshit:

He really said this:

These illiquid assets* are clogging up our financial system, and undermining the strength of our otherwise sound financial institutions.

Cut out the unsound activities and what's left is "sound". What a joke.

* "lax lending practices earlier this decade led to irresponsible lending and irresponsible borrowing"


posted by Quiddity at 9/19/2008 10:16:00 AM