Of course Mr. Paulson, you saved the world with the massive bailouts. We applaud you on using taxpayer money to bailout AIG. “the unemployment rate would have risen easily to 25% without the bailout.” Paulson noted to lawmakers in Washington.
So let me understand this, you’re saying you stopped the great depression because we allowed Bonus loving AIG into our pocketbooks. As compared to the great recession rate of 17.3% and climbing right to 25%. In other words I would argue that you didn’t “stop unemployment from hitting 25%” in fact what you did was draw out the recession to the point where recovery will be a decade year out rather than 3 years out.
I say Mr. Paulson that your figure is bogus, as well as the figure that unemployment right now is 10%. The only thing that appears to to follow any standard from Washington is that we can’t trust it’s figures.
Who gave this guy the power over our pocket book anyway? Oh wait.. he can’t be voted in or out by the general public.