StockJockey writes on Paulson’s diminishing credibility.
The Hill Rips Team Paulson, Neel Kashkari
Courtesy of StockJockey at 1440 Wall Street.
Hank Paulson’s legacy is looking severely tarnished, and the gang from Goldman has been catching grief from all sides. Paulson, an environmentalist, might work for a group like the Nature Conservancy after he leaves Washington in January.
That day cannot come soon enough, for him and us….
Today, two months before he leaves office, some say Paulson is a reduced figure, damaged by the financial-market meltdown that happened on his watch and by the government’s struggles to respond to it.
“Paulson’s credibility has certainly been substantially diminished,’’ said Peter Wallison, who was general counsel at the Treasury under former President Ronald Reagan and is now a fellow at the American Enterprise Institute in Washington. “There has been a lot of shifting back and forth and he clearly hasn’t thought through much of these policies. He has lost a lot of confidence from the market from all of this.’’
Hank is a disaster, and his boy Neel Kashkari was not afforded the same courtesies the Hedge Fund titans received yesterday.
Brutal stuff, they just shredded him in his testimony today. Although the Congressmen called him a chump, and not a chub, as Maria Bartiromo thought in the late afternoon.
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What the hell is Paulson doing? Simon Constable and David Gaffen don’t know either.
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Paulson Credibility Takes Hit With Rescue-Plan Shift
Bloomberg
