Sandra C. Field, MBA, CFP®

1 minute reading time (202 words)

Goodbye Secretary Paulson

In December, Secretary Paulson made the unilateral decision to guarantee $306 billion of CitiGroup's assets. The guarantee was in addition to the $25 billion Citi had already received in TARP funding. The $306 billion "guarantee" was not part of TARP and was extended without Congressional approval.

$306 billion is equal to what our government spent in 2007 for the departments of Agriculture, Education, Energy, Homeland Security, Housing and Urban Development, and Transportation combined. (The Economist)

Is it fair that Bank Of America made very bad business decisions to buy Merrill Lynch and Countrywide Financial and now the taxpayers are backing their losses? And, management keeps their jobs? Nancy Pelosi said it best when describing the bailout of GM and Ford that their failure and incompetence is being rewarded, instead of their success.

The number of financial institutions (and others) that are applying for TARP money is astounding. Billions of dollars are being handed out, without Congressional approval, and without a tracking mechanism to know what the banks are doing with the funds.

I guess this is how it worked at Goldman Sachs. Paulson's net worth is estimated to be near 800 million. Maybe he could make some loans with his own money.

Fed Takes Action!
Madoff Madness

By accepting you will be accessing a service provided by a third-party external to

Search Blogs Module

Wait a minute, while we are rendering the calendar
paper records October 1 2020. Supplemental Security Income padlock FSA IRS deadline Auto insurance retirement pets Wells Fargo customers IRA accounts spam phone 2017 TD Ameritrade National LINC Conference Federal Trade Commission website integral member 900 number 4 pm -8pm disaster areas Coronavirus Aid home break-ins estate planning memorial Day weekend Open Enrollment Amazon borrowing money Facebook profile web address credit freeze pet industry privacy settings Open House Charles Schwab prescription eyeglasses clients jury duty paperwork clutter phone companies Retirement Contribution Limits home security Victor Dergunov health care costs spring cleaning interest Orange County Superior Court ice cream event DNA test kits Flexible Spending Account January 10 home emergency kit phone payments September 30 2020. Medicare Advantage credit card company Puerto Rico Erin Nelsen executive order Kiplinger Letter July 6 drive /usb Asset Planning information Facebook scams tax filing deadlines “ skimmer ”. Two-Step Verification Medicare Part B Notary Public cell phone service provider home assets trust trustee insurance policies settlement options 70 1/2. July weekend donation counts D premiums donation items car loans Shred paperwork tax returns items earnings fallout 20 year anniversary checklists relief efforts clone counterfeits identity thieves emergency kit partner /owner cell phone provider National Ice Cream month EEChecklist-Kits.pdf stockpilingchecklist.pdf rescue organizations CERTIFIED FINANCIAL PLANNER exam Medicare Part B premiums fees July 4 Treasury Department account numbers 401K illiegal robocallers wells Fargo home emergency preparedness kits emergency folder tax season cell phone SIM swap scam portal Financial Planning Magazine breach VOIP landline phones Legal robocalls ice cream hurricane Dorian fun facts debt identity theft coronavirus California Lions Friends driver license Kraig Mathias cell phones markets ID card investment statements non-prescripstion sunglasses Wells Fargo employees people medications self-help topics client portal documents bottom line asset Planning summer tax deadlines Roth IRA credit cards market turmoil Social Security TD Ameritrade April 15 COVID -19 virus chip-enabled EMV cards CARES Act health care services Healthcare banking 2017 IRA contributions notary services retirement plans retirement planning estate planning direction media accounts credit card fraud opt-out cell phone carriers offer birth certificates retirement accounts spread team members tax records Orange County official certification pet donation drive vision screening FEMA website water … house sitter Medicare plan app June 29 Social Security Administration Joey Gonzales student loans Part D premiums . emergency kits Expired medications pet supplies years April 18 2017. news coverage records parking spots contribution limit vacation cell phone carriers pet life saver 23 andme https :// estate CA FTB stock pile interest rates privacy notices flash drive family members increase toilet paper https ://seekingalpha July 3 rd earthquake app Medicare Independence Day card reader consumer spending Brexit vote stimulus package check lists insurance policy operations manager CFP ® 2018 IRA contributions company text messages president Trump 2017 Equifax breach tax deadline Mobile Banking Security Tips Affordable Care Act April 11 February 14 policy IRS Fox News story credit score offering insurance holidays approach blog post Part B fun atmosphere information email notifications phishing scams Medicare question gap insurance home mortgages clients show support Economic Security phishing sites Ice Cream Social money credit monitoring service business hours