Henry 'Hank' Paulson

What can one say about Henry 'Hank' Paulson. He was a Wall Street 'wunderkind', enhancing the reputation of his old firm, Goldman Sachs. As Bush's Secretary of the Treasury, well, he's hardly lived up to his reputation. Look at his solution to the sub-prime mortgage mess which is sucking the American economy into the swamp of a recession. His old firm sensing the crisis, repacked faulty sub-prime loans and sold them to greedy competitors and banks worldwide. As a result, although Goldman Sachs wrote down billions, they made even more. Paulson believes in that centuries-old fairy tale that the free market regulates itself. Eyewash! His solution to the problem: a private fund of capital put up by the major banks which will not solve the ballooning write-offs which some venture to guess are inching towards a good half-tillion Yankee dollars or more. And what about foreclosures? Paulson has little to say, for as he and that other pooh-bah Alan Greenspan firmly believe unfettered free markets will settle the market one way or the other. Well, boys, the road to economic hell and collapse is paved with such pie-in-the-sky beliefs. But rest assured you have enough money in the mattress to weather the impending storm!