This MarketWatch story is stretching to find something that I don’t think is there. But it makes for a good read, and it does provide evidence to show that Goldman Sachs is way too influential in our government. Here’s a taste….
He (“Hank the Hammer” Paulson) got $38 million his last year as CEO in 2006 before becoming Treasury Secretary.
Then during the market meltdown six months ago the $700 million personal fortune he built at Goldman was threatened by Goldman’s huge $20 billion derivatives exposure at AIG: Suddenly his responsibilities at Treasury merged with a strong self-interest in protecting his personal fortune. AIG was “saved.”
There’s a lot more here – some of which I talked about in a previous post – but read it for yourself.