Wall Street FAILED Execs are getting $billions of bonuses from taxpayers. This, at a time that middle class America is being wiped out, yet is paying the bills, is quite shameful.
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http://www.iranian.com/main/blog/jaleho/near-trillion-main-street-wall-street
I also thought it was very disgusting that people like Mr. Buffet who invested $5 Billion of his own in Goldman Sachs, would advocate NO OVERSIGHT on how Henry Paulson spends near $TRILLION of tax payers hard earned money. Now, we see what happened with that lack of oversight!! Here was my comment on Warren Buffet's thred:
WB putting his mouth where he put his money!
by Jaleho on Fri Oct 03, 2008 06:47 AM PDTWarren Buffet indeed is a great investor. Buffet would not have invested $5 billion of his own money in Glodman Sachs were he not SURE that Henry Paulson, the former CEO of GS would do everything in his power as the Treasury Secretary to save Goldman!
As much as most people might agree with him on the urgent need for the government to do something to help the financial crisis, I am not sure if everyone is as ardent as him granting unlimited spending power to Henry Paulson. This is Buffet's quote: " I think we should give Paulson a blank check", and not have many people interfere with how he spends it.
Sorry Mr.Buffet, your recent Goldman Sachs investment might benefit tremendously by that decision, but Henry Paulson is not quite the KING HENRY YET!!
This is like giving Cheney the power to choose wars, I am sure he would choose the wars that would benefit his former company, Haliburton. Oh wait, he already did that :-)
PS. We already have seen Mr. Paulson pick and choose: he
actually bargained for JP Morgan to pay $2 p/s rather than the offered
$10 to Bear Stearns, he quietly watched Lehman go under and Merrill
Lynch
to be bought over the weekend, but on Monday he went on fire and saved
GS and MS from the same fate. If I had Warren Buffet's money, I would
have bet it
on Paulson using everything in his power to save Goldman Sachs too!!
http://www.iranian.com/main/blog/haj-seyd-mammad/warren-buffet-financial-crisis-u-s
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