Thursday, March 18, 2010
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Former Treasury Secretary is either stupid or criminally negligent
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Wednesday, March 18, 2009
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Everyone and their dog is up in arms over the AIG boondoggle. They should be. But hey gang... let's aim our pitchforks at the guy who really deserves it: Former U.S. Treasury Secretary Hank Paulson.

The right answer to a question is almost always the simplest and most obvious one. So... was Hank Paulson - the superman Goldman banker, CEO, and Harvard MBA - too damned stupid to understand all of the Goldman/AIG chicanery?

Or... here's a crazy thought: Did he know about the danger, ignore it, then make the decision to throw hundreds of billions of dollars to his buddies when it all went to hell?

This article offers our colleague Porter Stansberry's take:

"The person that should be subpoenaed is Hank Paulson. How do you go from running Goldman Sachs in '05 and '06 and making all of these bets with AIG's financial products unit and then end up in the government guaranteeing those bets and not have a conflict of interest?"

Read full article...

Topics: AIG | Boondoggle
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