Subtitle: “Is it any wonder you are too cool to fool?” – David Bowie, Fame
The architect/author of the bail out bill was George W. Bush appointee Henry (Hank) Paulson. An ex-Goldman Sachs chief executive, whose comp package in 2005 was $37Mil, and was (projected) $16.4Mil in 2006, before being named United States Secretary of the Treasury on June 3, 2006. His estimated net worth is north of $700Mil(US).
With this little bit of wording, in the initial version:
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.”
. . . is there any wonder why anyone responsible would be hesitant to approve anything submitted by this man? A guy FROM Wall Street wants to give $700Bil (of our tax $s) TO Wall Street, and he has the stones to insert such a Rovian/Bush escape clause??? From this point on the guy’s credibility (like his boss’) was shot.
Bush Job Approval Survey Date Apprv% Disapprv% Unsure%
| USA Today/Gallup | 9/26-27/08 | 27 | 69 | 4 | -42 |
Even IF the version that came up for vote today had all the necessary provisions for protecting the tax payers – and we’re hearing there were still substantial loopholes – there was always going to be a George Bush/Hank Paulson stink to this thing. They could very easily remove half of this stink if Paulson RESIGNS (Are we to believe that – for the past two years - Hank didn’t know what was going on at: Bear Stearns, Lehman Bros, Merrill Lynch, Washington Mutual, Wachovia Bank, etc.?) and they get someone who doesn’t smell like a fox, working on the inside of the hen house.
YUR
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