http://www.mcclatchydc.com/2010/10/10/101753/inaction-by-treasurys-paulson.html#storylink=omni_popular
Remember Hank Paulson and all those little special favors he did for his old friends?
Did he reign in their recklessness.....NO
Did Congress .............NO
Congress just ended up giving the banks more money because Hank Paulson threatened them with martial law.
Now why would he think martial law? Because if the truth came out about mortgage-gate, people would have sought out the highest form of retribution against the banking industry.
Henry Paulson has received widespread acclaim for his bare-knuckled decision-making as the treasury secretary at the peak of the 2008 financial crisis, but former federal regulators say he missed multiple chances to contain the disaster.
Among the prime beneficiaries of Paulson's inaction in 2006 and 2007 was Goldman Sachs, the investment banking behemoth he ran before he was named to former President George W. Bush's Cabinet.
Paulson's failure to take steps to curb risky mortgage lending also enabled top executives of other Wall Street firms to continue cashing big bonus checks, while less privileged Americans lost their jobs, their homes and their retirement savings in the worst economic catastrophe since the Great Depression.
Paulson and Federal Reserve Chairman Ben Bernanke have been widely praised for engineering the Wall Street bailouts
Read more: http://www.mcclatchydc.com/2010/10/10/101753/inaction-by-treasurys-paulson.html#storylink=omni_popular#ixzz123tlz75k
