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Friday, January 27, 2012

Perp Walk Paulson

Barry My Liege:

It was a good speech. Some polls show that 91% of us liked the speech.

You have captured our mood; we are happy for that.

I suppose that it was necessary to give a surface treatment to your points since you wanted to include a lot of ideas.

Some may have hoped for a more practical approach where you might have said that you can take executive action in this instance and here is the action you have taken, while other items require Congress to act.

After all, my liege, we do not know all the ins and outs of our political process.

We are hoping that you will implement as many ideas as possible.

One of the actions I especially liked is the action to investigate and prosecute bankers for their crimes during the recent financial meltdown.

This action tells us that you will pursue equal justice for all and not let the Big Money Bastards avoid punishment or jail time.

Here is my suggestion for the first prosecution: Henry Paulson was former CEO of Goldman Sachs and acting United States Secretary of the Treasury when he went before Congress and lied under oath by telling Congress that both Fannie Mae and Freddie Mac were 'well capitalized'.

At that time he knew that both were under serious pressure and would likely fail. We know he knew because shortly after his testimony he held a private meeting composed of 20 hedge fund managers - the Big Money Bastards - and told them that both institutions would fail and be taken over by the Government, wiping out the share value held by private investors.

This is corruption at the highest level of the government. We cannot ignore it.

If you bring Paulson to justice, we will have a lot more faith in your commitment to fairness.

And, bankers will watch their step more carefully in the future.

That would be good for the country.

Your faithful servant,

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