Wednesday, October 15, 2008
Unacceptable but necessary, dixit il Duce of finance Paulson
'Unacceptable but necessary' quoth the raven of free market economics & anal hair stylist supremo & self styled il Duce of finance & former Goldman Sachs CEO & US secretary of the Treasury Hank Paulson. Yes, it's unacceptable to this free marketeer who as CEO of Goldman Sachs fashioned the subprime mortgage Ponzi scheme which has infected and poisoned the global system of finance. Dragged kicking and screaming to match in step with Europe and Japan in dealing with the market krash of 2008, he finds it unacceptable, but has to bow to his peers concerted and common action which goes against the grain of letting government's largesse favour finance capitalism without any check. So, here he is agreeing to buy equity warrents into 9 major US banks, including his defunct investment banking house Goldman Sachs reborn from its ashes as a commerical holding company cum bank, and agreeing to regulationing the finance industry as yet undefined. Do the US rate or taxpayers need a man like Paulson to save literally their lives? NO! NO! NO! He's against everything which their tax monies fund without 'government on capitalism's back!' The US needs someone who will safeguard the economic lives of its citizens not a scoundrel who sells pie in the sky whilst sipping champagne & eating caviar in the aery of his multi million dollar home. Happily, he has not long in his post, yet he has enough time to drag his feet in dealing with the consequences of the krash so that each day becomes a small calvary for the small man or woman but not for the plutocrats that he and Herr Bush favour, support, and look to save out of class solidarity. Throw the bum out! Paulson has not shame. He should resign!
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