You tell 'em Henry !!“I share the outrage that people have,” Mr. Paulson told the SenateBanking Committee on Tuesday. “It's embarrassing to look at this. Ithink it's embarrassing to the United States of America. There is a lotof blame to go around.” -- You tell 'em Henry !!
Mr. Paulson spent his entire career on Wall Street, including sevenyears as head of Goldman Sachs, one of the companies at the epicentreof the financial turmoil. He has also surrounded himself with topadvisers from the financial services industry. -- But, he absolutely no idea this was coming ..... hit him like a ton of bricks (Lehman's office building coming down).
And distancing himself a bit from Mr. Paulson, who is a formerchief executive of investment bank Goldman Sachs, Mr. Bernanke pointedout that he is a college professor and has never worked on Wall Street. -- Ah, good idea Bernie. Remember Rule #1: CYA !!
Law enforcement officials, meanwhile, said Tuesday that the FBI wasinvestigating four major U.S. financial institutions whose collapsehelped trigger the bailout plan. -- yah, but Enron was a long time ago ..... What was the name of that movie again? Something about smartest guys in the room? That ain't the SEC boardroom, anyway. None of those there.
Critics have complained that AIG and several other collapsed companieshid the extent of their deepening financial problems from regulatorsand investors by understating excessive debt and risky investments. -- Really?!? Whoever would've thunk it! ('AAA' ... right to the bitter end! LOL!! I gotta get me a job at Moody's or S&P! I can stamp paper with the best of 'em! Really! I can!)