Sunday, June 26, 2016

Hank Paulson Slithers into Hillary Clinton Camp

What’s that slimy, slithering sound I here?  Why it’s former Treasury secretary and Goldman Sachs CEO, Hank Paulson crawling out under a rock and into Hillary Clinton’s camp!  Why shouldn’t we be surprised by that?  After all, it was he and his band of thieves that raided the taxpayer coffers during the financial turmoil in 2008.

How come this man and his mobster friends weren’t convicted on RICO charges?  Paulson should be someone’s bitch in a jail cell.  That’s because people like Hank Paulson don’t go to jail.  They’re the financiers of other criminals like the Clintons, Obamas and other scoundrels who are in charge of our justice system.  They are the cronies in our so-called capitalist system.  They profit off of our losses.

Here is the reason Mr. Hank Paulson endorsed Hillary Rodham Clinton:

When it comes to the presidency, I will not vote for Donald Trump. I will not cast a write-in vote. I’ll be voting for Hillary Clinton, with the hope that she can bring Americans together to do the things necessary to strengthen our economy, our environment and our place in the world.

Really?  She is one of the most polarizing people in this country and he believes she will unite us?  What a fool!  Hillary may strengthen Paulson’s and his buddies’ economic situation, but she won’t for the American people.  He continues:

We need to welcome rather than shrink from trade and economic competition. Trump calls our current trade deals “disgusting, the absolute worst ever negotiated by any country in the world.” This is simply false. According to the Peterson Institute for International Economics, the average American household income is roughly $10,000 higher because of the postwar expansion of trade. Because of trade, we add jobs and foster innovation and competitiveness. That doesn’t mean that people aren’t losing jobs and suffering in certain industries. However, it is wrong to tell the American people that we can turn back the clock and win, with merely 4 percent of the world’s population, by walling ourselves off from the remaining 7 billion people and the markets they represent. Instead, we need to fix the programs that help U.S. industries and workers transition to new and better jobs. We need better training, new education programs and a more robust safety net. The policies Trump endorses would destroy, not save, U.S. jobs.

The majority of those 7 billion people live in a third-world shithole.  What do they provide besides cheap labor that connected fat cats like Hank Paulson can exploit?  How about providing conditions that would attract manufacturing to the United States such as deregulation and an abolishment of punitive taxes?  Has anybody thought about that?

Just to remind people of what a crook Hank Paulson and his cronies are, here is an excerpt from Reckless Endangerment: How Outsized Ambition, Greed, and Corruption Led to Economic Armageddon.

In 2001, however, Fannie took its accounting chicanery to new heights, or lows, depending upon your perspective.  And it did it with the help of its favorite investment bank, Goldman Sachs.

Goldman had long had strong ties to Fannie Mae.  Stephen Friedman, chairman of Goldman Sachs from 1992 to 1994, had been director of Fannie Mae since 1996.  In 2001, Friedman sat on Fannie’s Compensation Committee and its Nominations and Corporate Governance Committee.  Both areas were seriously compromised by the me-first attitude at the top of Fannie Mae.

Indeed, while Friedman was on Fannie’s board, federal investigators said directors improperly allowed the company’s executives to set earnings targets they were sure to meet.  “As a direct result, senior management reaped ongoing and extensive financial rewards through accounting manipulation,” the investigators wrote the OFHEO report concluded.

In 1999, Goldman had returned the favor of a directorship by offering a seat on its prestigious board to Jim Johnson.  It was a classic example of the “I’ll –scratch-your-back, you-scratch-mine” mentality among corporate boards.  The year Johnson became director at Goldman, Henry M. Paulson Jr., the man who would oversee the taxpayer bailout of Fannie Mae as Treasury secretary in 2008 took the helm at the investment bank.

Because Goldman did not have a nomination committee at the time, Johnson’s appointment to its board was a decision made at the highest levels of the firm.  Johnson immediately received the plum board assignment of chairing the firm’s compensation committee.  This meant that Johnson, in addition to his other board duties, would be in charge of dispensing some of the richest payouts on Wall Street.

Crooks!  Every damn one of them and they are still walking the streets to this day!


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