that Henry Paulson gave up his position at Goldman Sachs in order to be in the position to take the economic reigns at precisely this moment in history, to be able to bail out the system – at taxpayer expense – that he helped bankrupt?
Why would the man known as “The Hammer” give up CEO compensation of $38 million a year (making in two days his current annual salary as Treasury Secretary) if it was not to (1) protect his own vast wealth and (2) bail out the banking system he spent the last ten years helping to drill into this hole?
Paulson made more $38 million in 2005, according to Goldman’s proxy statement, with most of that, $30.1 million, coming from restricted stock awards, and stock options valued at $7.3 million. He got $29.2 million in stock grants in 2004 and $20.8 million in 2003, on top of his base pay of $600,000 each of the last three years.
That’s a lot of stock value to protect.
Paulson worked in the Nixon Administration at the same time as Dick Cheney – they’re old pals. Paulson’s hiring, and his proposed monarchical 3-page bailout package, have Cheney’s bloody fingerprints all over them.
Please, call your Senators and Representative – or email if you can’t call – and tell them that their constituents’ economic future is worth a few more days of consideration and negotiation.
Wall Street can wait.
Congress main line:
(202) 224-3121
Harry Reid
(202) 224-3542
Write Reid
Nancy Pelosi
(202) 225-4965
Write Pelosi
Steny Hoyer
(202) 225-4131
Write Hoyer (use zipcode 20770)
I was gratified this morning when Maria Cantwell’s line was too busy for me to speak to an actual person – I left a message – and to find that Patty Murray’s mailbox was full. I hope they’re getting the message loud and clear.
If you can’t get through on the phone, send an email.
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