Wasn’t this the guy who told us (not so long ago) that all was well?
Incompetence, or dissembling? Either way, can’t we do better than this guy?
Government officials like Paulson claim that we should trust them to exercise their powers wisely. But government officials spawned the mortgage meltdown and financial crisis through their incompetence, such as mandating risky loans to promote “affordable housing.” And Paulson himself failed to see it coming even when the warning signs were obvious. Not long before taxpayers ended up bailing out mortgage giant Fannie Mae, Paulson claimed it was in good health, and for political reasons, he ignored warnings to the contrary from conservatives. His arguments for the bailout are internally inconsistent, and disregard the lessons of history. There is no reason why taxpayers should trust him with $700 billion and no strings attached, especially given his conflicts-of-interest in doling out the money.
For all you history buffs ...
Paulson appears to be
America’s Vidkun Quisling.