GOP congressman rips Paulson

[babylonsister]

http://thehill.com/leading-the-news/gop-congressman-rips-paulson-2008-09-25.html

GOP congressman rips Paulson
By Aaron Blake
Posted: 09/25/08 10:39 PM


Republican Rep. Steve Pearce (N.M.) lit into Treasury Secretary Henry Paulson on Thursday, calling him the “fox in control of the hen house” and questioning his objectivity in dealing with the current economic crisis.

Pearce, in an uphill battle with Democratic Rep. Tom Udall for New Mexico’s open Senate seat, ripped the Republican appointee for his time as an executive with Goldman Sachs investment bank and suggested Paulson is the wrong person to be dealing with such issues in the Bush Administration’s $700 billion bailout proposal.

"Paulson was Chief Executive Officer at Goldman Sachs, one of the companies involved in creating the financial crisis," said Pearce. "I don't think anyone should be confident that he will hold accountable those who got us into this, nor that he will institute the proper reforms to prevent it from happening again."

Pearce’s Senate campaign noted that Paulson received “more than $16 million in compensation” during his last year as CEO. Pearce said he was deeply concerned that Paulson would have such “unchecked power” in dealing with crisis, without sufficient reform of the system.

Polling in the race has consistently showed Udall with a large lead for retiring Sen. Pete Domenici’s (R) seat. Pearce defeated Rep. Heather Wilson for the GOP nomination earlier this year.

[magellan]

1. Paulson doesn't care

He's banked millions, and it's highly unlikely anyone will hold him accountable for the ripoff of America which he has overseen.

[babylonsister]

2. He might not care, but there are many questioning his involvement

given his history.

[magellan]

5. The questioning ought to happen under oath

...and with full disclosure of his financial records. But we can't even get anyone to go after the murderers and torturers in the WH...I doubt going after Paulson for murdering our economy will be high on anyone's list.

[Cessna Invesco Palin]

3. Ladies and gentlemen, we have entered bizarro world. n/t

[Saturday]

4. Not only was Paulson once the CEO of GS....

according to Forbes.com he still held shares recently (assuming he still does) and will stand to profit millions from the bailout.

[wildflower]

6. This seems to be going along with the plan

by the Republicans to tie the bailout to the Democrats and divorce themselves from it.