Good Old Hank Paulson

I just learned some very disturbing news. It should really not be any surprise, since I think nearly everyone in the government is a greedy scum sucker.

Remember our old friend Hank Paulson? Yes, the guy who was the Treasury Secretary when our financial institutions collapsed.

Yes, the same guy who forced Bank of America to buy a bankrupt company and causing them to lose Millions of Dollars.

Yes, the same fine fellow who came up with the TARP program.

And right you are, the same fellow who was the head of Goldman Sach's for 25 years. Which for some unknown reason, made Billions when AIG was rescued, at Mr Paulson's direction.

Yes, he is a pillar of society. And a sneaky one too.

While at Goldman, he acquired 200 Million dollars of Goldman stock. Fair enough. If he sold his stock, he would pay 35 Million in taxes.

Well, we all know how much them folks don't like to pay taxes. Funny thing about the tax code, there are exceptions to the rules, if you know how to scam the system.

It seems that part of being Treasury Secretary means you can't own, say, 200 Million dollars of Goldman stock. Luckily, the government has made that problem easy to get around. According to the tax law, he would have to pay 35 Million in taxes for selling his 200 Million in Goldman stock, unless he was required to sell it for a government appointment.

So by becoming the head Treasury man, which pays much less than his former position, had was able to sell his 200 Million in stock, and keep every penny.

I wondered why he would take that crappy job, and then only hold it for a little while. 35 Million in savings isn't bad for a short term gig. And it doesn't hurt to funnel money to your old company either. And imagine how lucky you are when you can end you old companies rivals straight into bankruptcy.

Yes, I think they are greedy self centered scum suckers.