November 19, 2008

Paulson: "I didn't have the authority for anything"

It's nice to discover that our analysis of the blatantly illegal actions taken by Secretary Paulson is shared, somehow late, by The Washington Post:
During his 28 months at the Treasury, Paulson has accumulated more power than nearly any of his predecessors and has wielded it boldly, even brazenly at times, in a bid to tame the financial crisis of a lifetime. He has burst through the customary boundaries that separate federal agencies, bent regulations to his will and pushed up against legal limits. As financial firms tumble and traditional oversight agencies prove impotent, Paulson has filled the void with his 6-foot-1 frame, summoning the rest of Washington and Wall Street to get in line.
"Even if you don't have the authorities -- and frankly I didn't have the authorities for anything -- if you take charge, people will follow," Paulson said in an interview. "Someone has to pull it all together."
It's truly amazing to discover that in the 2,280-word article there is no hint of doubt, scandal, or indignation for Paulson's openly admitted crimes ("I didn't have the authorities for anything"). True, compared to what Bush and Cheney did, this is peanuts (but are 700 billion peanuts?)