Hank Paulson is Example # 1 of how a person can be very smart and successful on some issues and be incredibly stupid on other issues.
Paulson is actually quite smart - he’s been able to make money off the middle class and bail out his overpaid pals at the investment banks with the tax money paid by the middle class at the same time. Another wonderful Bush appointee.
Well,this issue of Paulson’s is beyond incredibly stupid.
Paulson is a diehard environmentalist, who loves the adulation of the green crowd. When he was CEO of Goldman, the firm obtained a big chunk of undeveloped land in Patagonia (the firm owned debt issued by the owner, who defaulted). He had the firm donate it as a massive nature preserve. He received all sorts of awards and praise, for spending shareholder money. Now, it was all legitimate, as the BoD signed off, but it’s similar to our elected Solons getting praise for spending taxpayer money.