The Art of Deception – Hank Paulson Speaks
This OpEd piece by Hank Paulson, published on November 18, 2008 by the New York Times, is a monument to wasteful, off-target thinking.
“Fighting the Financial Crisis, One Challenge at a Time”
By Secretary Henry M. Paulson, Jr.
The New York Times November 18, 2008
We are going through a financial crisis more severe and unpredictable than any in our lifetimes. We have seen the failures, or the equivalent of failures, of Bear Stearns, IndyMac, Lehman Brothers, Washington Mutual, Wachovia, Fannie Mae, Freddie Mac and the American International Group. Each of these failures would be tremendously consequential in its own right. But we faced them in succession, as our financial system seized up and severely damaged the economy.