Paulson For President
In 1968, there was a sad little man on the popular TV show "Laugh In" who ran for president. His name was Pat Paulsen. He probably did not get any votes.
Whatever he policies are on Iraq, universal health, and the war on drugs, Henry Paulson, current Secretary of the Treasury, is as close to a president as the US has. George Bush spends most of his time overseas or cutting brush at his ranch. Paulson is dealing with the most immediate problem, and the most serious, the disintegrating economy. Since it may be the most pressing crisis to hit the US in thirty years, Paulson is at the wheel of events which could put the US into an economic and social catastrophe for several years.
So far, Paulson has done a better job than most could have expected. With his sidekick, Ben Bernanke of the Fed, he has not allowed a single major financial institution to fail. While the stock market has dropped some, it has not hit a tail-spin which could take it down several thousand points over a few brief weeks. His solutions to the mortgage crisis may not work, but they have a sound underpinning in logic.
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24/7 Wall Street | Douglas A. McIntyre | March 28, 2008 08:34 AM