Lenzner on Paulson

http://www.futureofcapitalism.com/2010/02/lenzner-on-paulson

Robert Lenzner, an occasional commenter on this site and a smart, experienced guy, has a column in Forbes: "Stop sniping at Hank Paulson. The former Treasury Secretary saved the day by overcoming his predilection for free market capitalism ...His pragmatic boldness helped save the capitalist system from a possible total collapse." I actually think there's a strong case that Mr. Paulson's actions made things worse, not better. But that even Mr. Lenzner buys into the Paulson-Obama-Bernanke-Geithner-Buffett narrative of how these guys supposedly averted a global economic catastrophe is a sign that the Paulson-made-it-worse view is losing out to the Paulson-was-a-hero view, at least in one test case of a person in whom you might expect some sympathy to the Paulson-made-it-worse case.

by Editor  |  Feb 17, 2010 at 4:53 pm Related Topics:  Capital Markets Regulation, Federal Reserve, Goldman Sachs, Press, Timothy Geithner, Warren Buffett receive the latest by email: subscribe to the free futureofcapitalism.com mailing list