ping
paulson hearts obama
Hank Paulson feared there would be a run on the dollar during the early phase of the financial crisis when global concerns were focused on the US, the former Treasury secretary has told the Financial Times.
He feared Goldman Sachs and Morgan Stanley would go down along with Washington Mutual and Wachovia.
The frenzied manoeuvring came in the three-week period between the failure of Lehman on September 15 2008, and Columbus Day weekend in early October, when the global financial system was on the verge of meltdown.
“Banks were going down like flies,” Mr Paulson told the FT. As his book details, he was scrambling to secure Tarp bail-out funds from Congress.
“The timing could not have been worse since we were months or weeks from the election so you had the collision of markets and politics.”
Although a Republican, Mr Paulson found it harder to deal with John McCain than Barack Obama – raising the raising the interesting (and unanswered) question of which candidate Mr Paulson voted for.
Source Financial Times.
http://www.ft.com/cms/s/0/772748d6-0e94-11df-bd79-00144feabdc0.html
>>paulson hearts obama
Of course he does. Paulson’s a Quisling, NyLon wearing, Fabian Socialist POS SOaB.
"The logic of the conspiracy theorists in this regard is, of course, impeccable: Goldman alumnus Josh Bolten runs the White House, while his former boss, Hank Paulson, runs the Treasury. They both speak regularly to former Treasury Secretary Bob Rubin, now over at Citigroup, who ran Goldman before Paulson and who keeps Paulson and Bolton dangling like puppets on a string. They all supposedly touch base with the heads of the Italian and Canadian central banks—both Goldman alumni—and with Robert Zoellick, head of the World Bank, ex Goldman. What's more Paulson is now getting his advice on how to handle the crisis from Ken Wilson, the recently retired Goldman partner and financial-institutions M&A banker, who Paulson just recruited to Washington to help him out. Already at Treasury were Goldman alumni Dan Jester, Anthony Ryan, David Nason and Bob Hoyt, the department's general counsel. And—the conspiracy crowd can't help but point out—Neel Kashkari, 35, a former vice-president at Goldman who Paulson recruited as assistant secretary of international affairs in 2006, has just been appointed—by Paulson—to run, on an interim basis, the new $700 billion bailout fund."