Else how to explain that Neel Kashkari, a 35 year old protege of Paulson (former Goldman Sachs CEO), has been chosen to head the $700 billion bailout. Kashkari also used to work for Goldman, at a mere VP level and has a background in engineering. Wow, sounds like he’s just super-qualified for the job. I’m sure they looked long and hard before deciding, darn, no one in the entire country is better qualified than Kashkari.
Ethically, this stinks. The conflicts of interest are obvious. And the simple fact of the matter is that Paulson didn’t really spring into action until Goldman Sachs stock started plunging. Yes, there was and is a real crisis. But the sight of dear old Goldman cratering like all those plebian stocks was simply more than they could bear.
“Get ready to be disgusted by the coming investment bank / Goldman Sachs clusterfcuk,” I’m told…
Engineering is a pretty complex science, right up there with Physics (physics is everything), and the ongoing unraveling shock doctrine smells strongly of having been engineered…
Amen. How else can you explain the Bernanke Fed fanning the flames of inflation through lower interest rates while claiming (against even the most rudimentary economic training) that its lower interest rates would stimulate growth and free up the credit markets? Lower REAL interest rates would have done that, but the Fed (if it is to be believed) didn’t realize the disparity between its own rates and the real ones.
Actions speak louder than words. This crisis was manufactured, or at least intentionally exacerbated, by a recent Bush appointee.
Thanks for the excellent post! Look for it at:
http://www.kycbs.net/Goldman-Sachs-Chronicles.htm
Keep up the great work!
– Catbird