Metaphor of the day, Hank Paulson edition

By Felix Salmon
June 9, 2009

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Hank Paulson has decided that the TARP repayment proves that the program “worked to stabilize our financial system”. Obviously, if you give people a bunch of money they don’t want, and then reluctantly accept that you’ll allow them to repay it, then you must have achieved something substantial, right?

Or else you’ve just achieved a state where even your clichés become tortured: Paulson goes on to inform us (I imagine a deep and sonorous voice ringing out from a cavernous library somewhere) that “the road ahead is not short”. Which is probably just as well, seeing as how short roads have a tendency to come to a rather abrupt halt.

Comments
5 comments so far

even the least short road reaches an end.

Posted by bdbd | Report as abusive

and there’s the old Chinese proverb, “Only the shortest road ends with a single step.”

Posted by bdbd | Report as abusive

Hilarious :-)

Are they still getting all of the other subsidies that came with TARP?

Given that the answer will be ‘Yes,’ this is just the American taxpayer subsidizing the coninued irrational employment of Vikram Pandit and Ken Lewis without getting even the scintilla of ‘upside’ that TARP originally offered.

“Obviously, if you give people a bunch of money they don’t want, and then reluctantly accept that you’ll allow them to repay it, then you must have achieved something substantial, right?”

I’m not a fan of Paulson but when he gave them the money they needed it and wanted it.

The idea that they were forced to take it was PR designed to make them look like they were in better shape than they were.

Posted by dk | Report as abusive
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