Paulson's Apologia pro sua vita 2

US secretary of the Treasury has gone on the telly to lecture us on the financial crisis which he as CEO of Goldman Sachs, among other bulge brack bankers, created, and which he as US secretary of the Treasury turned into a nightmare particularly after he, to teach Lehman a lesson, he refused to snatch it from bankruptcy. The rest we know as the world markets temble and continue tumbling. He has rewarded his friends in the financial sector and rescued AIG the spendthrift assurance company. Today's long, boring press conference bears no 'I take responsibility' at all, and he's done nothing to force the now more cash rich big banks, thanks to rate or taxpayers' largesse, refuse to loosen credit on the market. A casualty of this miserly attitude is the sinking of Detroit's auto industry, which again to teach the same lesson he taught Lehman, Paulson & co. are willing to tilt the deepening global crisis towards a worldwide depression. Once more, Paulson has shown too small for the job, and president Bush deserves complete blame.