The secret Paulson-Goldman meeting

[AllentownJake]

Andrew Ross Sorkin’s new book is out today, and breaks some pretty stunning news, dating from the end of June, 2008. At this point, we’re still months away from the now-famous but then-secret waiver, issued in mid-September, which allowed Hank Paulson to talk to Goldman Sachs; he’d promised not to do that when he moved from Goldman to Treasury.

But it turns out that Paulson just happened to be in Moscow at the same time that Goldman’s board of directors was having dinner there with Mikhail Gorbachev. (You know, as one does.) Take it away, Andrew:

http://blogs.reuters.com/felix-salmon/2009/10/20/the-secret-paulson-goldman-meeting/


I'm reading this book right now. It is mind blowing.

[fasttense]

1. How can you trust that liar?

He was the one who made up that $70 per hour union wage myth of auto workers. He's a tool of the Republicons. I wouldn't trust anything he says. He has no credibility.

"It's been one week since New York Times financial columnist Andrew Ross Sorkin wrote that at General Motors, "the average worker was paid about $70 an hour, including health care and pension costs."

The nugget was part of a column in which Sorkin argued that the government should not bail out the ailing Big Three automakers and that they instead should embrace bankruptcy.

Sorkin's point was that labor costs were out of control -- workers enjoyed "gold-plated benefits" -- and that during bankruptcy, the auto companies could address those runaway wages."

[AllentownJake]

2. The book does not potray anyone in Wall Street in a favorable light