Sunday, September 21, 2008

Architect of the Bailout - Henry Paulson

I sometimes still think that cabinet secretary appointments are pure political patronage. The same with ambassadorships, I might add. However, watching Treasury Secretary Paulson this week made me think that at least he is willing to step up and do the job he is paid for. Who knows whether this incredible, monstrous, and unfathomable bailout will work? But I sure think something had to be done, and despite my previous post, will support what these experts propose.

Don't get me wrong, I am still considerably rankled by the thought that the problem that necessitated this bailout, which could cost every man, woman, and child in the U.S. about $2000 each, is not the fault of 99.9999% of every man, woman, and child in the U.S.

Secretary Paulson has been working hard, with all his advisors, to come up with the "last, best hope" for our economy to survive nearly sure devastation. He seems to be earning his dough and is clearly more than a figurehead patron. I agree with Thomas Friedman's column that notes if Senator Obama becomes President, he should consider keeping Paulson on as the financial captain at least until the storm subsides.

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