Sunday, December 9, 2007

Hank Paulson's Blind Spot

Hank Paulson knows how to make money. No doubt about that. Look at his record when he was at the helm of Goldman Sachs. As the US Secretary of the Treasury he has proven timorous at best. His solution to the subprime mortgage bloody mess is so weak tea, it should make anyone sit up in wonder.
Paulson may work hard to save endangered species, like the American Bald Eagle, but let him try saving the ordinary working Joe or Jane from foreclosure, he cannot fight his way out of a paperbag. It's not easy to explain.
Paulson is so rich, he doesn't know the everyday aches and pains of the working poor to get by. He glides in the stratosphere of the wheelers and dealers; he's a slave to the rich and the super rich, so how do you expect him to feel for the little guy or gal?
FDR could and did. As an arch capitalist, Paulson & his crowd firmly believe in the market which can do all and everything but for those frightful times when say the savings and loans threaten to go belly. At such dire moments, they go crying to the government to bail mismanagement, corruption, and bad business practices. And who pays, the ordinary burden taxpayer whose rate of taxes are heavier than Paulson & his class and caste.
What's his meat is his poison for the rest of us. Throw the bum out, he ain't work a tinker's pence, nor does the man in the White House who put him in his job!

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