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Showing posts with the label Hank Paulson

You Couldn't Slap TARP As Hard As This Report Did

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Though released earlier this week, it is very necessary to not forget the emphatic scolding of the Bank Bailout by its Special Inspector General. And this summary from the notable "Economic Populist" really burns everyone at the Treasury, especially Timothy Geithner. Hopefully though, as Geithner continues to get the hammering he deserves (with Obama his boss of course), people will never forget the architect of this Wall Street Welfare package Hank Paulson. He has continued to abscond from public condemnation so easily (just like all the other prominent figures of the Bush Administration), highlighting another element of our country's dysfunction. If you haven't had a chance to read that summary of the lengthy 338 page report , I encourage you to see an utter slapfest done in simply understandable Layman's term.

So, Where Is Hank Paulson At?

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As Ben Bernanke received all the heat today for his abysmal analysis of both his work and where we should go in our economy ( Targeting Social Security and Medicaid , WTF?) , a name popped up into my mind that has been able to vanish from the minds of most, even the piously political. Because as Bernanke was receiving all the heat today, a certain guy by the name of Hank Paulson has gone back to filling his slimy pockets without being held accountable. Because Lord knows how he was Golden Sachs willing meal ticket as the Treasury Secretary. For example, this story wasn't talked about as much when this story broke over a month ago But it turns out that Paulson just happened to be in Moscow at the same time that Goldman’s board of directors was having dinner there with Mikhail Gorbachev. (You know, as one does.) Take it away, Andrew: When Paulson learned that Goldman’s board would be in Moscow at the same time as him, he had [Treasury chief of staff] Jim Wilkinson organize a meetin...