Henry Paulson - Collusion Between Politicians and Big Business to Rip-Off Joe Worker
Henry Merritt "Hank" Paulson, Jr., United States Treasury Secretary recently nominated by President Bush and confirmed by Congress gave his first public speaking address, as Treasury Secretary, today. Of all of the problems facing the Treasury, such as the 47 trillion public debt, threats by China to sell our Government bonds and tank the US Economy, unfair international trade practices, Usury practiced by the Banking system, et al. what does he choose to talk about? Yes my fellow working Americans, he wants to relax and/or eliminate the provisions of the Sarbanes-Oxley Act.
He states that because of undue regulation on corporate governance his buddies at Goldman Sachs and other financial institutions are losing IPOs to foreign markets. This, all on the day that the recently fired CEO of KB Homes communicates that he will be getting $175 million in severance even though he was encouraged to leave because of guess what? Yes, corporate malfeasance for the stock option scandal. This is the same KB Homes that assists and imports illegal aliens to come and work at the jobs “Americans will not do!” It should also be noted that at the current time there are over 2,000 investigations into illegal stock option grants.
I, like many of you, lost hundreds of thousands of dollars during the last crash of the markets because of Corporate Execs falsifying financial statements. The US Treasury Secretary feels that the best way to protect his constituents, who by the way are US citizens and not corporations, is to relax corporate governance. This as the government is washing its hands of the contractual agreement of Social Security, again which you and I have paid for, asking us to invest in these markets for our future.
Why would a public servant go down this road?
Could it be his ties to financial institutions?
Perhaps, this idea is supported by the fact that the Undersecretary of Finance for Domestic Finance is his old chum and buddy, former Goldman Sachs co-worker, Bob Steel. Could it be that he is concerned about his own investment positions in the financial institutions?
Mr. Paulsen, we have serious problems in this country. They are getting worse day by day. Stop wasting time. Do your job. Tell the American people how the finances of this nation really are instead of hiding it in an annual report that no one reads. We have some serious sacrifices in front of us but we must all be on the same page to take them on. The corporations are not your constituents. We, the citizens of the US, will be here. It has been said that you have credibility. I cannot wait to see it.
Tags: Politics Corporate America Corrupt Politicians Minimum Wage War on the Middle Class US Treasury Stop Pork Spending Illegal Immigration KB Homes Goldman Sachs Financial Institutions
Labels: Class Warfare, Corporations, Corruption, Financial Institutions, Public Debt
posted by Small Business USA at 2:41 PM
3 Comments:
Hey David! Thanks for commenting over on my page! You're a man of hardy soul, coming back over to my site after the hard time I gave you before! The way we started communicating reminds me of how I met a couple of my best friends -- a little rough at first, but a lasting friendship later. Life works that way. By the way, I'm sorry you lost so much in the last market crash. That's good experience by which to judge current conditions. I'm not as pessimistic on the budget and international balances, however. The U.S. market is the envy of the world, and Chinese businessmen don't want to lose access should the regime in Beijing stop support the dollar. Take care.
Burkean Reflections
Hey, because you posted comments on my blog, I looked at yours for the first time. Looks interesting. I suspect we might have our disagreements but the dialogue and argument could be fun.
As for Mr. Paulson, he IS doing his job. Just not for you and me.
Donald Frank discussion is always good if it is honest. I hope that the discussion will give all of us a broader view of the difficulties we are facing. Regarding China, they will do what they perceive is in their best interest. A wise father, in this case the govt., would do well to consider both the best and worse case scenario and before anything else limit downside risk and not count on someone else acting in what the father considers to be their best interest.
Carl I agree that Paulsen is doing a great job for his constituents. Isn't that the problem?
Our govt. has forgotten, or has chosen to ignore, who its constituents are.
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