Use access key #2 to skip to page content.

Paulson the Dictator...

Recs

16

September 21, 2008 – Comments (12)

This is truly amazing.

From the leaked proposal for the mother of all bailouts.

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.

What country does this guy think he's living in?

Does anyone in Congress have enough spine right now to avoid giving away our entire system of checks and balances?

Unreal.

Sj

12 Comments – Post Your Own

#1) On September 21, 2008 at 2:43 PM, TMFBent (99.82) wrote:

Is this right? Does Paulson still own 3.2 million shares of GS?

If so, anyone think there was anything funny about the fact that the blanket bailout came only a day or two after plenty of Wall Streeters decided that GS was going to be next to fail?

Report this comment
#2) On September 21, 2008 at 4:19 PM, Ph1sh55 (28.35) wrote:

That's a power grab if I ever saw one..

Report this comment
#3) On September 21, 2008 at 4:19 PM, masokotanga (99.65) wrote:

Nope. Paulson was required to sell the shares back in 2006 after he was appointed as Treasury Secretary. However, Uncle Sam's rules did allow him to save $200M in capital gains taxes.

http://www.marketwatch.com/News/Story/43xRFhd1RRlnqg1H1BkmTP4?siteid=google&dist=TNMostMailed

Report this comment
#4) On September 21, 2008 at 4:19 PM, masokotanga (99.65) wrote:

Nope. Paulson was required to sell the shares back in 2006 after he was appointed as Treasury Secretary. However, Uncle Sam's rules did allow him to save $200M in capital gains taxes.

http://www.marketwatch.com/News/Story/43xRFhd1RRlnqg1H1BkmTP4?siteid=google&dist=TNMostMailed

Report this comment
#5) On September 21, 2008 at 4:41 PM, goldminingXpert (29.47) wrote:

Sign the petition to stop this thing and call your congressman and senators (repeatedly if they refuse to take a solid position for or against this. The undecideds are heavily swayed by call volume.)

Report this comment
#6) On September 21, 2008 at 4:42 PM, dinodelaurentis (72.75) wrote:

it's worse than a power grab.

it's a Naked Power Grab.

somebody call the SEC!

talk about shorting, paulsen's shorting the whole system of governence!! i've read his bio but i want to know who hank really is... is it wrong to question authority?

i'm gonna have to pay off my October Surprise bets with my friends, i thought that it would be military or assasination...

 

Report this comment
#7) On September 21, 2008 at 8:44 PM, abitare (36.90) wrote:

Report this comment
#8) On September 21, 2008 at 10:33 PM, Imperial1964 (97.75) wrote:

Paulson should have been forced to sell all his GS stock and options when he took office and should not be able to hold any now.

Besides the lack of any sort of check on his power, what also disturbs me is there is no cap to the actual cost of the bailout.  Just a cap on the assets that can be held at a time.

This gives Paulson the power to basically launder the banks' money.

Report this comment
#9) On September 22, 2008 at 7:25 AM, AntiRL (< 20) wrote:

Haha...  In other new, the new richest man in America is Henry Paulson with an estimated net worth of 700 Billion Dollars.

Report this comment
#10) On September 22, 2008 at 7:25 AM, AntiRL (< 20) wrote:

Haha...  In other new, the new richest man in America is Henry Paulson with an estimated net worth of 700 Billion Dollars.

Report this comment
#11) On September 22, 2008 at 11:30 AM, XMFPhila100 (90.32) wrote:

It's troubling to be sure, but in terms of checks and balances the Secretary of Treasury reports to the President by whom he can be dismissed (or more typically, "asked to resign"). Depending on who enters the White House in January, Paulson could only have a few months of control.

 

Report this comment
#12) On September 22, 2008 at 11:32 AM, XMFPhila100 (90.32) wrote:

It's troubling to be sure, but in terms of checks and balances the Secretary of Treasury reports to the President by whom he can be dismissed (or more typically, "asked to resign"). Depending on who enters the White House in January, Paulson could only have a few months of control.

 

Report this comment

Featured Broker Partners


Advertisement