Why Treasury’s Paulson Wants Absolute Power

As ye sew, so shall ye reap…

A list of what this latest, inevitable crash of Wall Street has cost some of its leading enablers (from yesterday’s NY Times).

Surprising how, in the case of former Goldman Sachs CEO Henry Paulson, a $300 million loss to his portfolio would lead him to demand absolute, non-reviewable power to spend $700 billion of taxpayers money to save his and his buddies’ butts.

Actually, the tab is estimated to have risen to $1.8 trillion as a result of lobbying from the likes of UBS vice chair Phil Gramm to add foreign banks with American branches to the soup line.

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