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Hank Paulson: As Wrong about Climate
Change as he was about The Crash

Breitbart London [UK], by James Delingpole

Original Article

Posted By:Attercliffe, 6/24/2014 12:28:29 AM

Hank Paulson, the former US Treasury Secretary who helped transform the 2008 crash from a temporary crisis into a long-running, still-unresolved disaster, has now turned his expertise to the subject of climate change. [Snip] Looking back at the dark days of the financial crisis in 2008, it is easy to see the similarities between the financial crisis and the climate challenge we now face. This is a bit like the Captain of the Titanic returning from his watery grave to tell us: "Trust me. I have experience of managing disasters. That´s why I´m just the man you want to appoint

Comments:
Classic Jimmy D.

      


Post Reply  

Reply 1 - Posted by: NotaBene, 6/24/2014 1:59:00 AM     (No. 9897433)

Paulson really ensured a disaster by letting Lehman Bros. fail and giving half of TARP to Baraka Hussein to spend on Commies (not satisfied with this BHO also passed a one trillion stimulus for Democrat fellow union travelers, without a single Republican vote in the House). In my view George W. Bush was a great President, especially by taking the war to the homes of our Muslim Enemies who brought down the Twin Towers, but Paulson caused a disastrous ending and the election of BHO.

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Reply 2 - Posted by: Country Boy, 6/24/2014 3:13:26 AM     (No. 9897440)

Ole Henry is definitely off the rails commenting on Global Warming.

But I think the TARP I had to be done. DOJ had started forcing banks to make low grade mortgages early in Clinton´s first term (our "first Black President"). After a decade of that the low grade passthroughs being sold as Aaa/AAA by the GSEs had infected nearly all the regulatory capital of our banking system. It was like steel beams loaded with defects in all of the nation´s bridges.

Money velocity had dropped to nearly zero. If the TARP I funds were not distributed, payroll accounts would soon not clear.

TARP I was necessary. But TARP II and III are just more Keynesian discredited gibberish.

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Reply 3 - Posted by: ranger06, 6/24/2014 8:40:59 AM     (No. 9897609)

I read the piece Paulson wrote - and was wondering while reading why he weighing in on this... Then I got to the part about "carbon tax" and it became clear - he´s got some sort of angle for a carbon exchange or selling credits or some financial scheme were he can make the spread - time and time again everyone who jumps on this bandwagon is in it for the $$$...

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