Paulson To Write Own Account Of Economic Crisis

[sabra]

Source: CBS News

Henry M. Paulson, Jr. will join a rapidly expanding group of Bush White House memoirists. The former secretary of the treasury has announced that he will write an account of his time in Washington and his controversial handling of the global financial crisis.

Paulson's currently untitled book will go beyond his tenure at treasury to offer insights on how the Obama administration is dealing with the faltering economy and what moves he believes it should take, according to a statement release by his publishers.

"My goal is to provide a historical record to help the public and future policy makers understand how, as market and political forces collided, we made our biggest decisions -- where we did things right and where we didn't do quite as well, and what we learned as we held the system together with the equivalents of duct-tape and bailing wire," Paulson said in statement.

The book is sure to touch on Paulson's role in designing the $700 billion bailout plan for financial institutions and takeover of Fannie Mae and Freddie Mac. Most important, in terms of legacy burnishing, will be Paulson's rationale for allowing the investment bank, Lehman Brothers, to fail – a move that the former secretary's critics cite as a reason for the economic meltdown.

Read more: http://www.cbsnews.com/blogs/2009/03/26/business/econwatch/entry4894502.shtml

[Deja Q]

1. EXCLUSIVE: Here's the title of the book!

"I Didn't Cause The Crisis, But if I Did, Here's How I'd Do It"

[CoffeeCat]

2. Here's the real title...

"I'm an Evil Bastard Who Robbed the Peasants of This Nation, but I'm Rewriting History With This Book To Cover my Cloven-Hoof Tracks."

[No Elephants]

4. And Those of Dummya and His Little Dog, Too!

[No Elephants]

3. I Ruined the Entire World and All I Got Was A Big Salary and This Fat Book Deal, by Hank Paulson.

[CoffeeCat]

5. Here's the jacket cover...of Hank working at his desk...

[truedelphi]

8. Rather telling likeness, though a tad bit too thoughtful

Thanks Coffeecat

[Javaman]

6. "How I didn't make it happen or learn to live poor and love the ceo bonus's." nt

[truedelphi]

7. Let me help you out Hank - first of all those DAMN poor people banged on the doors of

The leading mortgage firms, demanding that those firms give them mortgages.

Then those DAMN poor people encouraged Wall Street to cut those mortgages up into teeny tiny pieces to be sold as investments. (CDO's)

Then those DAMN poor people demanded that insurance for those investments be sold - not as insurance, as that would be regulated, but as Credit Default Swaps, which for some strange reason managed to be insurance that was unregulated because those instruments avoided the name "insurance".

When that was done, those DAMN poor people realized that they were on a roll. They demanded that Wall Street should be encouraged to sell those Credit Default Swaps up to thirty five times per bundle.

Then those DAMN poor people spent all their money on drugs, rather than paying for their mortgages. This caused the entire economy to collapse, not only here but also abroad.

So in the end, we have learned two things as a society - one) keep drugs illegal
2) don't let poor people ever have mortgages again.

[dixiegrrrrl]

9. Author !!! Author !!!! Well done...

:applause: :applause: :applause:

[LuckyLib]

10. The title? My Pet Goat.