The Paulson conspiracySubmitted by northstar on Wed, 10/15/2008 - 02:33
One of the biggest stories around the globe at the moment is that United States Treasury Secretary Hank Paulson – the architect of the US financial rescue package and former Goldman Sachs executive – is part of a conspiracy theory.
Critics say that the package he delivered was much too good to Goldman Sachs and that Paulson himself was deeply involved with the creation Goldman’s toxic assets when he ruled the roost.
I am not going to comment on these allegations, but there is no doubt that only someone who thoroughly understood the intricacies of US money markets would have been able come up with the kind of detailed rescue plan that he did. Again, without making a conclusion, sometimes times it takes a person who was part of the conspiracy to sort out the mess.
The latest conspiracy theory begins with the initial rescue package where Paulson wanted $US700 billion to be made available with virtually no strings attached. The conspiracy theorists say Goldman would have done well out of such a deal. Congress rejected that version of the Paulson plan, but given his unique knowledge of the situation it was probably the right thing to do.
Worldwide, there's a whole lot of people who like Ron Paul :-)