Buy Boycott This Book
So, five years after the collapse of Lehman Brothers and the 2008 financial crash, former Treasury Secretary Henry Paulson is peddling a new forward, “Five Years Later,” to his 2011 book “On the Brink.”
Ironically, at 38 pages, Mr. Paulson’s forward is a whopping 35(!) pages longer than his original TARP request to Congress.
If you don’t recall, that rather spare, three(!) page document proposed showering $800 billion on Wall Street, very hastily and no strings attached, thank you very much.
By contrast, “On the Brink” weighs in at a positively prolix 434 pages.
Paid by the Word?
Stunningly, nowhere in Mr. Paulson’s original TARP proposal was there any discussion of Congressional oversight, judicial review, or accountability of any sort.
What was in it?
A recitation of the various legal waivers and immunity Paulson sought for his largesse — provisions that mostly made it into the final version of TARP (longer than 3 pages, but still one of the most outrageous transfers of wealth — to the least deserving — in American history).
Boycott-Proof? Not This Time
Unfortunately, I still don’t have any great ideas for boycotting Goldman Sachs, Mr. Paulson’s former company.
But, I have some rather pointed advice to anyone tempted to shell out good money for his non-mea culpa.
Don’t.
I’m not buying it.
And you shouldn’t, either.
See also, “Number of the Week: $600 Trillion“; “Goldman Sachs: ‘It’s Not My Dog.“
