Quotable Quotes: Henry Paulson, The UNleader
by Miki SaxonAs you probably guessed from the title I’m not a fan of Treasury Secretary Henry Paulson. I don’t trust him to do the tough stuff that a leader needs to do. He’s not only missing vision, he can’t seem to see the forest for his friends.
Actually, I think he’d be served best with butter and maple syrup.
Here are a few historical gems.
“We’re all trying to get our heads above the battle smoke and look for the real meaning of Enron to put it in perspective.” (What perspective? Enron’s leaders played illegal games that destroyed thousands of people’s lives and got caught. Seems pretty clear to me.)
“I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.” April 2007 (How’s that for an insightful statement?)
“I don’t think it [the subprime mess] poses any threat to the overall economy.” July 2007 (At least he’s consistent.)
“The US banking system is well-capitalized and ‘we have a strong deposit insurance system that provides good coverage for the savings of hard-working Americans.” December 2007 (Of which we have fewer and fewer every day.)
“Looking forward, I expect that financial markets will be driven less by the recent turmoil and more by broader economic conditions and, specifically, by the recovery of the housing sector.” May 2008 (There spoke a Treasury Secretary with a real handle on reality.)
“It’s a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation.” July 2008 (I want some of what he was on!)
“This market has for all practical purposes ground to a halt. Today, the illiquidity in this sector is raising the cost and reducing the availability of car loans, student loans and credit cards. This is creating a heavy burden on the American people and reducing the number of jobs in our economy.” November 2008 (Ya think?)
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Image credit: flickr
December 7th, 2008 at 9:26 am
I belive the most angering issue is that as a financial leader, he didn’t seek out any and every viable option before asking and pushing for the “blank-check” option from the American taxpayers. In leadership, the real test is to hunt for options…and I believe that there have been many other viable solutions presented. This is a tough one for the American people and I question the wisdom of his leadership.
pj
December 7th, 2008 at 12:25 pm
And yet, somehow, he was able to convince people to grant him a $700 billion blank check.
I’m not real sure who should take the urine test here…Paulson or Congress.
Great article, Miki!
December 7th, 2008 at 1:31 pm
Hi Phillip, what wisdom is there to question? Paulson followed the party line of ‘the Hell with the American public, just take good care of your Wall Street friends and ex colleagues for there you will find your next job’. thanks for stopping by and adding your thoughts, they are right on.
December 7th, 2008 at 1:36 pm
Thanks, Mark. Probably best to test both. The result more less proves a sharing attitude to their drugs of choice.
Thanks also for all the laughter you’ve provided me at Biz Levity:)