Thursday, October 2, 2008
Bailing out the Crooks
According to the New York Times, Henry Paulson (Secretary of the Treasury), remember him, the guy who said "Give me 700 BILLION DOLLARS or this nice little economy you have here gets it", bailed out AIG (the PRIVATE insurer) because of the risk AIG's bankruptcy posed to Paulson's former firm (he was the chairman) Goldman Sachs, where he made a cool 700 Million (no typo).
So, our Secretary of the Treasury is using the Treasury, you know, the UNITED STATES treasury as his own little piggy bank to help out his needy, yet obscenely wealthy friends. Hey, I could use some help, how about it? For extra fun, read the addendum on the NYT article which mentions that Paulson didn't attend ALL of the meetings that dealt with the AIG bailout, just some of them. Well, that makes everything just peachy now, doesn't it.