Hank Paulson: No Worse Failure in the History of the Universe

I have previously proven, in this blog, that there is no worse "news" organization in the universe "Anti-American, Despicable Associated Press" (always use complete, official name in first reference).

I can now officially say that there is no worse failure in the history of finance, in the entire universe, than Hank Paulson, Secretary of the Treasury. You may wonder how I can say this, since the only example we have is this world. How do I know about the reset of the universe? Easy. You just have to look at the wording here. "No worse" means what it says. And it does not matter how bad a failure a financial person is on another planet, that being could not be worse than Hank Paulson. It is impossible, just as it is impossible for any "news" organization in the universe to be worse than the despicable AP.

Just before I was typing this, Hank Paulson was speaking to some Congressional panel or another. As he spoke (i was looking at CNBC at the time, and could track it), the stock market sank with each word. It is an embarrassment--an indictment of our democratic republic--that this man has not been fired. Worse, he is in "charge" of trying to "save" us from the mess that he had more responsibility in creating than any other one person (including in his years as CEO of Goldman Sachs--his primary goal at Treasury seemingly being to save Goldman Sachs).

How can the "markets" have any confidence in this man? This is the man who panicked, and sold this stupid "bailout" on the idea we were facing Armageddon. If you listen to him now, the situation is worse than he envisioned. The man should just be shot. How can it be worse than Armageddon, and if it is why should we have any hope?

The man is a total, complete failure, and every word out of his mouth makes it worse. Reading between the lines, he seems to be saving "TARP" money (even while we are in worse shape than Armageddon) to see where it can best be used to save Goldman Sachs--still his primary goal. The man has no clue, and he is a menace.

I ask whether it really gives you any confidence that this failure Paulson says that things are so bad that it will do no good to use the 700 billiion I (Paulson) said would save us from Armageddon. Rather, "we" (Paulson) need to figure out how to use that money in a much more effective manner--even though I (Paulson) really have no clue as to what will work, and despair of anything really working (things being so much worse than Armageddon).

Give me a break. Shooting is too good for this man. He needs to be tortured with Congressional investigations for the rest of his natural life, and maybe beyond.

P.S. Even though the stock market dropped as Paulson talked, I don't want to leave you with the idea that the stock market has really become rational. It is one of those conservative myths out there--being deliberately created for partisan purposes--that the stock market has dropped because of Obama--in anticipation of Obama. This blog does not let that kind of partisan non-thinking color what I say. Plus, unlike Rush, Sean, and the rest, I actually understand what is going on with the stock market, and have told you. Since Paulson panicked everyone, and insured a recession, with that "selling" of the Wall Street bailout--with pictures of Armageddon that the economy has evidently already exceeded--the stock market has actually not moved. Obama has had little or nothing to do with it (beyond failing to inspire irrational faith in the stock market). In the 8 days before Obama was elected, the Dow went up 18%, while the economy was deteriorating. That was irrational, and a fiction. All that has happened since that time is that the stock market has given back that fictional, computer trading generated rise--a rise for which there was no excuse in the first place. The problem with the stock market remains, as this blog has told you, that the trading "system" is broken. Fictional (not related to fundamental developments, except as they can be used to trigger the computer buying and selling) computer program trading is domination the market, and so we get 1,000 point moves in a single day (which no "news" development, short of a major war--and it did not happen in the past even with World War II--should generate). No, I tell you the truth. Rush, Sean, and the rest do not always do that. The truth is that the recent stock market gyrations are not related to Obama, but are related to a broken trading system on Wall Street, with way too much manipulation replacing real "investment". This is a separate problem for the economic downturn, although it is a problem which itself threatens our markets with eventual collpase.

P.S. 2: Just so you don't get me wrong, I fully anticipate that Obama will cause economic disaster, after he is President (although he may manage a brief, government driven, false "recovery"). However, I am clear eyed enough to realize that the present stock market has nothing to do with Wall Street anticipating that disaster, communists/socialists that the people on Wall Street now are.