Hank Paulson Is a Bald (-Faced) Liar: I Have Proof
Here is an ABC story (HT2EPJ) reporting on Paulson’s sudden change of heart regarding how his requested $700 billion “Troubled Asset Relief Program” (TARP) would now not involve any troubled assets:
So, is this the biggest bait and switch in American history? There will certainly be critics who say that Paulson and the Bush Administration were disingenuous when they were selling Congress and the American public on the program back in September. And they’d probably be right. Paulson said today, he knew when the bill was signed the purchase of trouble assets wasn’t the right solution to the problem.
(Incidentally, if someone can point me to a direct quote from Paulson–preferably from an official transcript–that would be great. Paulson’s defenders could argue that the ABC reporter is fudging what he actually said.)
Assuming the statement above is true, and that Paulson really did just admit that he knew purchasing “toxic” mortgage derivatives wasn’t the solution when the bill was signed, then the following clip casts our Treasury Secretary in a less than ideal light, wouldn’t you say?
