Sunday, September 21, 2008
THIS IS MADNESS Giving Hank Paulson $700 billion to do what he pleases with is insane. It's the same as the Iraq war--and roughly the same price--but instead of carnage and destruction, we're just skipping straight to the part where we give all the loot to the powerful and well-connected.
That's not to say federal intervention isn't needed. It sounds like it is. But putting the former head of Goldman Sachs in charge of the mother of all taxpayer sponsored slush funds--for him to dole out to his old Wall Street friends in whatever way he likes--is worse than crazy.
Calling it "crazy" doesn't even begin to capture how crazy it is.
