Paulson's $140 Billion Surprise

It's a little-known story about the financial crisis. During the frenzied events of the fall, Henry Paulson rewrote a piece of the tax code to expedite mergers. The quiet alteration amounts to an estimated $140 billion windfall for big banks. Some critics say Paulson's move was too autocratic, others argue that it was much more than that—that it was downright illegal. Will Tim Geithner and the Democrats attempt to correct the wrong?

Category:

People & Blogs

Tags:

• Financial crisis
• mergers
• Bernie Sanders
• Doggett
• Lloyd Wachovia
• Wells Fargo
• Paulson
• Henry Treasury
• bailout
• economy
• taxes
• banks
• section 382
• 2008-83
• Citizens for Tax Justice
• Robert McIntyre
• Geithner

[perlaand]

Men, this country looks like a third world republic

[Paolo7219]

Clearly, the Wachovia guys are being paid off. The deal is, they walk away from their jobs at Wachovia--with a sweetheart kiss-off package, and in return the Wachovia guys agree to not squeal on Goldman Sachs and JP Morgan. In other words, the deal was, take your payoff and don't rock the boat for the rest of us. Done deal.

[davidtheditchdigger]

What?

[JetRanger0007]

Bey ya Attorney "John Woo", Cheneys attorney had his hands in this !! Just like the Patriot Act, and the Go ahead for the War in Iraq .

[ali0tis]

ok u & halburd leading me to believe i should stop & watch this in HD....

[halburd1]

its one of my skills. detecting the mark on peoples heads. ive seen it on others as well. even on a phillipine bar hirl lol. but his is the largest ive seen yet

[marrow777]

whoa that's freaky. Ive never seen veins like that!!

[callieland]

holy satan -worshipper batman! he's right people. its there.

[Boomer1949]

What is this shit I'm reading? "Let's wait and see what Obama will do", why are you turning over your obligation as a tax payer to one man? America is lost. If this and all the other atrocities that have been done in our name go unpunished, we're doomed to fail. Like Rome, Like Great Britain, Like the Soviet Union.

[halburd1]

haha lol they go after some smuck for trying to sell obamas former chair. but they let this billion dollar criminal go free. more non-change u can count on.