o Hank "Free Lunch" Paulson : Wall Street's Apologist

Hank Paulson was the Chief Executive Officer of Goldman Sachs for a few years before becoming the Treasury Secretary in 2006. You mean to tell me, from that privileged and global prospective, he could neither foresee nor correct the market problems that are now bringing down the economy? Why not?

That's because Wall Street titans contribute heavily to Washington DC politicians' campaigns so the people in power can look the other way. Its the legal equivalent of how the mafia used to have police officers on the payroll. Also, why disturb anything when the markets are red hot and everyone is making money? Maybe Paulson took the job as the Treasury Secretary specifically to bail his buddies out when things turned sour? Let's just put the guy who can be directly implicated in creating this mess in charge of the bail out. Makes sense?

Now Paulson is up to the biggest con in history, hijacking government authority to pass a bailout for companies that made really, really bad decisions. This policy is far off the principles of a free market economy.

Warren Buffet saw the calamity miles away, warned everyone, and no action was taken.

• Warren Buffet on Derivatives
• www.fintools.com/docs/Warren%20Buffet%20on%20Derivatives.pdf
• http://news.bbc.co.uk/2/hi/business/2817995.stm

Heads up GWB, we've finally found your WMD's. The banks have been burying them deep in their books.