Jim Hawthorne

The Secret Villain Behind Our Economic Collapse

Very good article! Thanks!
I think Paulson's "embarrassment" is rather shallow...

Last summer, we all remember Paulson's assurances that the upheaval in the Financials (he refused to admit to a crisis) was limited to the subprime and was and would continue to be contained.

We now know that this was false.

Now, it's very had for me to believe that the Secretary of the Treasury of the United States had such a dismally poor grasp of what was really going on, and the true depth of the problem.

If in fact Paulson did not know, then he has no business being the Secretary of the Treasury.

If in fact he did know, then he was guilty of lying to Congress and all Americans.

Either way, Paulson and Bernanke have lost the confidence of the American people, and have betrayed their trust.

It is time for them to go.

It is silly and ridiculous to expect those who were, at least in part, the architects of the current financial disaster to play key roles in the rescue and reconstruction. As Kevin Phillips remarked, the arsonists now want to be applauded as firemen!