It’s truly great to have friends in influential positions. I’m sure if Treasury Secretary Paulson’s mother was battling a life threatening disease with no medical insurance & about to loose her home to foreclosure, there would have been a fierce bill proposed in an equally swift manner to tackle many of our nation’s ills long before this golden parachute for Wall Street. But that will never happen since he’s a Goldman Sachs alumnus…even if he up and quit tomorrow or G.W.B. fired him, Mr. Paulson could still live out wonderful years in lavish opulence…and he’d take care of mama (or at least one would hope).
Mr. Paulson effectively terrified Congress into approving a legally immune blank check to the tune of $700Bn+ for global financial behemoths within a week…and he doesn’t want CEO compensation capped for institutions that seek taxpayer money to save them from their own undoing. I’d think a CEO might put their avidity aside for a few moments rather than let their company go bust (but what the hell do I know). And, naturally, the lobbyists and financial servicing firms are wetting their shorts/frothing at the mouth at the prospect of getting their greedy paws on this legislation.
Isn’t it just too convenient that with so much deregulation, nobody is going to jail for any of this mess? Since the U.S. is diving head first towards socialism they should bring back 20 lashes in public square…with Angelo Mozilo first in line to receive his administrative punishment. Now that the argument for democracy/capitalism is dying, maybe they’ll finally cut Cuba some slack.