Thursday, March 27, 2008

Dump Hank Paulson

US secretary of the Treasury and anal hairstylist par excellence has proven himself unfit in these parlous time of recession. Dump him, we say! He recently has come to the conclusion that some discipline [read regulation] has to come back to the market place, but not those 'stringent' measures which FDR' s New Deal gave birth to. In fact, like Herr Bush & the gang of Republican thugs, he has fought to undo that legacy, so that his class of super and ultra super rich flourish wantonly. The last thing this anal hairstylist wants is transparency for that would mean banks would have to expose their books to public scrutiny. Take Goldman where the anal specialist presided for years...they've let their hedge funds or two at least die on the vine. Cash rich as they are, we don't know how many us$ billion they hold in bad loans. Even JP Morgan's thrist for the failed Bear Stearns has it is rumoured debt to the whopping tune of us$288 billion but we won't ever know that till it fails. Britain and France have a more robust way of handling the meltdown in the market...open the books, more transparency, take note of the rot and do something to clean the financial stables. But that is not in the anal hairstylist Paulson's book.s

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