OK, I got to watch some of the actual Senate hearings. As I watched, I became more and more uneasy just watching Henry Paulson. This man looked like a defendant at a murder trail, and one who was trying to lie his way out of the crime, to boot. Blinking rapidly non-stop, nervously licking his lips and wringing his hands. It occurred to me that he looked like a man with a huge personal stake in the outcome of this bailout, not someone who will walk away from the job in January regardless of the outcome.
What albatross is Paulson wearing around his neck to make him act so disturbed?
President George W. Bush nominated Henry M. Paulson, Jr. to be the 74th Secretary of the Treasury on June 19, 2006. The United States Senate unanimously confirmed Paulson to the position on June 28, 2006 and he was sworn into office on July 10, 2006 by Supreme Court Chief Justice John Roberts.
Before coming to Treasury, Paulson was Chairman and Chief Executive Officer of Goldman Sachs. He joined Goldman Sachs in 1974 in the Chicago Office and became a partner in 1982. From 1983 until 1988, Paulson headed up Investment Banking Services for the Midwest Region and became Managing Partner of the Chicago Office in 1988. In 1990, he was named Co-head of the firm's investment Banking Division, and in 1994 he rose to the position of President and Chief Operating Officer. In 1998, he was named Co-Senior partner, and with the firm's public offering in 1999, became Chairman and CEO.
OK, I wonder how many of these crazy loan packages Paulson had a personal hand in writing. NINJA, anyone? The news of the FBI probe has become public knowledge. Does Paulson fear prosecution and loss of personal fortune? I mean, he has had tough jobs before, so what has turned him into such a Nervous Nellie at this late date?
Did anyone else notice Paulson's odd demeanor or is it just me? Is this really a "bailout" or a chance to pull off the mother of all cover ups for all the Wall Streeters? A chance to cover the tracks of one of the biggest wealth transfers from the lower class to the Elite class in the history of the world?
I guess they (Paulson and Bernanke) will be speaking to the House Financial panel this afternoon where they are sure to get some tough questions and comments from Ron Paul. Always a treat to see them sweat...