http://www.bloomberg.com/apps/news?pid=20601068&sid=axb_haAIXhYs&refer=home
Why did he get fired, because of policy disagreement maybe!
He told Bush he was nuts and running the country into the ground maybe?
We'll never know, but I do know this his plan is a lot sight better than what Hank has in mind! And it doesn't place the worlds debt on our back to do it!
What's the rush and why can't O'Neils plan be heard? Every economist in the country
including the governments own says Hank's plan won't work and doesn't help "The People" at all who have to bear the cost of the burden?
WHY the rush Hank WHY?
Former U.S. Treasury Secretary Paul O'Neill said the $700 billion bank-rescue proposal under negotiation in Washington is ``crazy,'' with potentially ``awful'' consequences for the world's largest economy.
``Doesn't this seem like lunacy to you?'' said O'Neill, who was President George W. Bush's first Treasury chief, from 2001 to 2002, in a telephone interview today. ``The consequences of it are unbelievably bad in terms of public intrusion into the private sector.''
O'Neill's objections mirror those of Republicans in the House of Representatives who rejected the plan in a Sept. 29 vote. The former Treasury chief said he's lobbying for an alternative solution that would offer guarantees for troubled assets, stopping short of purchasing the debt.
``Is anybody thinking there?'' asked O'Neill, who also served as deputy budget director in the Ford administration. ``It's too late, it's not going to make any difference and it's aggravating as hell when there's a better idea and you can't even get it in play,'' he said, recognizing little success so far in pitching his own proposal.
