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Krugman proves that Paulson is a lying sack of shit

vastleft's picture
Submitted by vastleft on Tue, 09/23/2008 - 3:56pm

Not that we shouldn't trust the Secretary of the Treasury with nearly a trillion of discretionary spending, but still...

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bringiton's picture
Submitted by bringiton on

by tossing his own $600 million personal fortune into the kitty. Or isn't he enough of a patriot to do that? After all, he says we'll all make a bundle off this deal so it should be a great investment for him too, and without it the whole economy will crumble and America will be severely damaged and surely he doesn't want to see that.

For good measure, and to assure the American people that this is all on the up-and-up, Bush and Cheney and all those in Congress who vote for the Rich Bastard Bailout Plan should also put up all their money - every stinking penny of it. Strip the bank accounts, mortgage their houses, raid their 401ks, take the change from the kids piggybanks - Every. Stinking. Penny.

What's the saying? "Put your money where your mouth is."

lambert's picture
Submitted by lambert on

Yep. Buffet's betting Goldman Sachs will be doing the asset assessments and the consulting, and collecting lots and lots of fees.

Maybe I should adopt Goldman-Sachs as my parasite.

[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.

lambert's picture
Submitted by lambert on

Krugman as above:

So, this morning Hank Paulson told a whopper:

We gave you a simple, three-page legislative outline and I thought it would have been presumptuous for us on that outline to come up with an oversight mechanism. That’s the role of Congress, that’s something we’re going to work on together. So if any of you felt that I didn’t believe that we needed oversight: I believe we need oversight. We need oversight.

What the proposal actually did, of course, was explicitly rule out any oversight, plus grant immunity from future review:

Sec. 8. Review.

Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency.

I’m not playing gotcha here. This is telling: if Paulson can’t be honest about what he himself sent to Congress — if he not only made an incredible power grab, but is now engaged in black-is-white claims that he didn’t — there is no reason to trust him on anything related to his bailout plan.

Double-fucking bonus pony bingo. Whaddaya know, it's clause 8. And whaddaya know, it's a Constitutional issue. Krugman is a god.

[ ] Very tepidly voting for Obama [ ] ?????. [ ] Any mullah-sucking billionaire-teabagging torture-loving pus-encrusted spawn of Cthulhu, bless his (R) heart.