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Rep. Marcy Kaptur Cross-Examines Henry Paulson About Warren Buffet-Goldman Sachs Deal

Henry Paulson loaned taxpayer money to Goldman Sachs.  Warren Buffett loaned private capital to Goldman Sachs.  Who got the better deal?Rep. Marcy Kaptur cross-examined Paulson about this issue.  Before heading Treasury, Paulson  was CEO of Goldman Sachs.  One does not rise to the top of Goldman Sachs unless he is a supreme alpha of finance.  One cannot legitimately question Paulson's tenacity or ability to strike hard deals. Thus, if Paulson had indeed been acting as a fidiciary for taxpayers, he should have gotten at least as good of a deal as Warren Buffett.  Why didn't he?  Paulson's reply?  "It was in the middle of a crisis."  How is that an answer?  Since when dooes one give sweet heart loans to people who are desperate for money?  It was awfully gracious for Paulson, a steward of United States taxpayer money, to not engage in predatory lending practices...continue to full post

Full post as published by Crime & Federalism on July 23, 2009 (boomark / email).