Paulson's media pal
Reader comment on: Paulson's Cronyism
Submitted by Fast Eddie (United States), Nov 29, 2011 20:58
Gee, somehow that incident did not make it into the suckup book by
a now-former NYT business reporter (currently at CNBC) which morphed
into an HBO made-for-TV hagiography of the sainted Mr. Paulson, or "P" as his
TV-wife adoringly called him. Let us also not forget that it was Paulson,
when he was heading Goldman Sachs, who led a delegation to D.C. to
ask for, and be given, permission for a few big investment banks to use MUCH
greater leverage in their investment schemes, the results of which materially
contributed to the catastrophe that unfolded in 2008. Let us also not forget
that it was Paulson who insisted on reimbursing the AIG counterparties 100%
on their potential losses despite the fact that some counterparties openly said
they expected, and would settle for, less than 100%. Needless to say, one of these
counterparties was Goldman Sachs, to the tune of over $10 Billion from U.S. taxpayers.
After he left office, he (and his ghost writer) produced an autobiography which scrubbed
him clean of all these, and more, troublesome incidents and which was erroneously
listed as Non-Fiction in the NYT best sellers list.
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