[bailout] bill does not deal with the absurdity
of the fox guarding the henhouse.
Maybe Im the only in American who
thinks this, but I have a hard time understanding
why we are giving $700 billion to the former
CEO of Goldman Sachs who, along with other
financial institutions, got us into this
problem to begin with!
plan that relies on the former chairman
of Goldman Sachs presiding over disbursing
hundreds of billions of dollars to Wall
Street is a terrible concept and inevitably
will lead to crony capitalism and the appearance
ofif not the actual existence ofcorruption.
The American people understand this and
they don't trust the Paulson plan. Congress
should never have been faced with this as
its only option to solve the financial crisis.
Congress never should have been confronted
with this bill. And one man, above all others,
That man is Henry Paulson, who may have
been a great deal maker for Goldman Sachs,
but has been an utter failure during this
It's timepassed time, in fact
for President Bush to fire Secretary Paulson.
Thank you for
joining our call for Treasury Secretary Paulson
to resign or be fired.
you haven't already, please sign our call to
Henry "the fox" Paulson!
We will take your signatures to elected officials
in both the Bush Administration and Congress.
Were already organizing demonstrations in
front of the Treasury Department in Washington
DC and in front of Wall Street in New York. With
your help, well keep building pressure UNTIL
WE GET RESULTS. Its appalling
that our taxdollars are going to Wall Street.
Its even worse that they are being doled
out by a Wall Street inside traitor!
is more information about why Paulson Must Go.
To get more involved in this campaign, contact:
info[at]codepinkalert.org or call 202-290-1301.
Secretary Paulson Must Go!
Talk about the fox guarding the hen house! Treasury
Secretary Henry Hank Paulson should
not be in charge of resolving this nations
economic crisis. On the contrary. He
should be fired! Heres why:
Paulson is a consummate
Wall Street insider. As CEO at Goldman
Sachs, he amassed a personal fortune of over $700
million in the casino economy. He created billions
of dollars in those bizarre financial products
you hear aboutwhich are now nearly worthless.
In other words, he helped create the very problem
he is now being asked to solve.
The economy crumbled
on Paulsons watch. He fiddled while
our economy slowly burned. In June 2008, Secretary
Paulson told CNBC: Our long-term fundamentals
in this economy are strong, and this is a strong,
competitive economy. Last May, discussing
the credit crunch and problems in the subprime
market, Secretary Paulson said, I think
we are closer to the end of this problem than
we are to the beginning. He added, by the
end of the year, "It's likely that there'll
be more strength in terms of the growth of the
When the crisis was
full blown, Paulsons response was atrocious.
He told us if we didn't bail out his fat-cat buddies
on Wall Streetwith $700 billion of our money
and no strings attachedthere would be a
gigantic meltdown. With a gun to its head, Congress
was asked hand to hand over this massive sum
immediately on the basis of a three-page
proposal! His three-page bailout plan was possibly
the most brazen attempt to grab power in American
history, demanding the keys to the U.S. treasury
with NO oversight, no Congressional or Judicial
review, no accountability whatsoever...and 700
BILLION DOLLARS! And where did that $700 billion
figure come from? Its not based on
any particular data point, a Treasury spokeswoman
told Forbes.com Tuesday. We just wanted
to choose a really large number.
Paulson has consistently
ignored the problems of Main Street America,
touting American productivity while
more than 600,000 Americans lost their jobs, blaming
supply and demand rather than speculation
for the skyrocketing oil prices, and promoting
the free trade policies that have shut down America's
factories and mills.
Under Paulson, the bailout
will be riddled with crony capitalism and corruption.
The bill gives enormous power to the Secretary
to decide which companies will be bailed out and
which will go under. Allowing an insider to determine
the fate of his Wall Street buddies is an appalling
conflict of interest. Weve already seen
an example: With taxpayer money, he bailed out
AIG to the tune of $85 billion, making sure AIG
could pay Goldman Sachs the $20 billion AIG owed
them. Imagine what hell do with $700 billion
to play with!
Paulson asked for unprecedented
power, and should not be rewardedor trustedfor
this power grab. Paulsons plan called
for the Secretary to have enormous discretion
over our economy. It actually included the following
language: 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. Non-reviewable? Is he crazy?
Rather than being
the czar who decides the future of our economic
life, Paulson should be fired!