Henry Paulson, a Republican who was U.S. Treasury secretary during the 2008 financial meltdown, on Friday called a Donald Trump presidency “unthinkable” and said he will vote for Democrat Hillary Clinton.
Yeah, it’s unthinkable because if Paulson’s former firm (Goldman Sachs) got into debt trouble Trump would probably do what he did with his firms that also did so — tell them to file bankruptcy instead of bailing them out.
He might also prosecute the firm and the executives for fraud, particularly if (as was the case in the bailout in 08) the firm was on tape calling things they were selling to clients as “good investments” by such descriptive monikers as “vomit” and “dogsqueeze.”
“I can’t help but think what would have happened if a divisive character such as Trump were president during the 2008 financial crisis, at a time when leadership, compromise and careful analysis were critical,” he said.
He sure as hell wouldn’t have his Treasury Secretary try to ram through a two-page bill that gave him plenary power to blow the taxpayer’s money without any check, balance, review or ability to prosecute even if the conduct was later shown to be utterly fraudulent!
No comments:
Post a Comment