Thread: wiki Henry Paulson

http://en.wikipedia.org/wiki/Henry_Paulson

He joined Goldman Sachs in 1974, working in the firm's Chicago office. He became a partner in 1982. From 1983 until 1988, Paulson led the Investment Banking group for the Midwest Region, and became managing partner of the Chicago office in 1988. From 1990 to November 1994, he was co-head of Investment Banking, then, Chief Operating Officer from December 1994 to June 1998;[8] eventually succeeding Jon Corzine (now Governor of New Jersey) as its chief executive. His compensation package, according to reports, was US$37 million in 2005, and US$16.4 million projected for 2006.[9] []His net worth has been estimated at over US$700 million.[/b][9] Paulson has personally built close relations with China during his career. In July 2008 it was reported by The Daily Telegraph that: "Treasury Secretary Hank Paulson has intimate relations with the Chinese elite, dating from his days at Goldman Sachs when he visited the country over 70 times."[10]

Leader of U.S. government economic bailout efforts of 2008

Paulson was the designated leader of the Bush administration's efforts in 2008 to federalize the cost of bad loans made by unregulated financial institutions.

Through unprecedented intervention by the U.S. Treasury, Paulson led government efforts purported to avoid a severe economic slowdown. He pushed through the conservatorship of government agency mortgage giants Fannie Mae and Freddie Mac. Working with Federal Reserve Chairman Ben Bernanke, he influenced the decision to create a credit facility (bridge loan & warrants) of US$85 billion to American International Group so it would avoid filing bankruptcy.

In late September of 2008, Paulson, along with Bernanke and Christopher Cox, led the effort to help financial firms by agreeing to buy US$700 billion dollars in bad debt from them.[22] Discussing his decision to take action, Paulson said: “It just happened dramatically. There was only one way that we could reassure the markets and deal with a very significant and broad-based freezing of the credit market. There was no political calculus. It was overwhelmingly obvious.â€

There has been some criticism of Paulson, with suggestions that Paulson's plan may potentially have some conflicts of interest. This since Paulson is the former CEO of Goldman Sachs, a firm that may benefit from the plan. [26][27]

WOW NO KIDDING!!!! THE CROOK!!!! KEEP IT FIRED UP PATRIOTS CALL, FAX AND PHONE!!!

Originally Posted by April

There has been some criticism of Paulson, with suggestions that Paulson's plan may potentially have some conflicts of interest. This since Paulson is the former CEO of Goldman Sachs, a firm that may benefit from the plan. [26][27]

WOW NO KIDDING!!!! THE CROOK!!!! KEEP IT FIRED UP PATRIOTS CALL, FAX AND PHONE!!!

700 billion is around the price tag for sending astronauts to Mars and establishing a permanent manned base there complete with buildings and facilities. We used to be a country that dreamed of exploring space and scientific achievement. Now all of our dreams center around "what can I do that will make millionaires happy, pathetic little working-class nothing that I am?"

SCAM! SCAM! SCAM!

AND THIS IS WHEN WE ALL SHOUT....................NO MORE......NO MORE WILL I BE USED AND TROD ON!!! NO MORE!!!!