I cannot go into the details, as the entire conversation was off the record — with an adversary of Hank Paulson’s.
However, I can tell you that, despite disagreeing with the bailouts & TARP that was put into place under his regime at Treasury, Hank Paulson may actually be a decent guy.
When you look at the rest of the parade of folks who helped contribute to the crisis — from the people at Treasury (Paulson, Geithner, Summers, Rubin) to the Fed (Greenspan, Bernanke) to Senate (Gramm, Leach, Bliley, Schumer), there certainly is plenty of blame to spread around a bunch of unsavory characters. Greenspan deserves much more blame than Bernanke (I also believe Bernanke is a decent man).
But Paulson did a few things that are not known, and probably wont be publicly revealed until the end of this year — if at all. His subsequent actions since leaving Treasury have actually surprised me.
This actually comes from an adversary of his. I will reveal all when I get permission, or when the book comes out, if ever — and if not, well, you just have to trust my judgment on this.
More to come later . . .
UPDATE: February 7, 2012 4:57am
Geez, y’all completely misread this.Settle down.
I didn’t say I upgraded him to Saint — I thought he was an god-awful jackass who oversaw the greatest theft in history, transferring trillions from taxpayers to incompetent bankers. After leaving Treasury, Paulson did a few things that surprised me and made me think he was more decent than I previously did — thats all.
However negative I was previously about current Treasury Secretary Tim Geithner, after Monday’s lunch I am even more negative than ever.
Please use the comments to demonstrate your own ignorance, unfamiliarity with empirical data and lack of respect for scientific knowledge. Be sure to create straw men and argue against things I have neither said nor implied. If you could repeat previously discredited memes or steer the conversation into irrelevant, off topic discussions, it would be appreciated. Lastly, kindly forgo all civility in your discourse . . . you are, after all, anonymous.