Listening to Newt describe his take on the bailout.
My apologies to Newt if I misinterpet his words. Newt is a straight shooter, so there is no doubletalk to wade through.
Paulson, who as you all know by now, proposed giving himself carte-blanche over 700 Billion dollars with out administration, congressional or court oversight.
Then Newt discussed a meeting with the NY FED concerning AIG bailout.The only private individual in the room was the CEO of Goldman Sachs, Paulson's former employer.
The AIG bailout was 80 Billion, of which Goldman Sachs held 20 Billion in exposure!!? And they were given special treatment.
The former speaker also mentioned that President Bush should fire Paulson.
I was surprised, but appreciated his candor.
I heartily agree with the speaker, Paulson must go!
He has left the appearance of looking out for his Goldman Sachs buddies, and I believe it. His actions allow for personally drawing no other conclusion.
The Goldman Sachs travesty transcends parties, however.
Recall back in Clinton days when the Mexico bailout occurred, guess who stood to loose a massive amount of money. Gee, you're good! Goldman Sachs.
Paulson's objectivity is shot. Even if he is an honest guy, he has allowed his actions to raise the appearance of impropriety.
Just say no to socialism! and Paulson.