The Art of Deception: Hank Paulson Speaks

November 19th, 2008 11:55 am  |  by Mike Miller  |  Published in Bailouts, Banking, Big Government, Debt, Economics, Federal Reserve, Free Market, Investing, Liberty, Money, Politics, Taxes, chris martenson, government spending, inflation, national debt  |  Comments

Yesterday, Secretary of the Treasury Henry Paulson published an Op-Ed piece in the New York Times.  It was filled with doublespeak, platitudes, lies, and incredible ignorance. Chris Martenson parsed Paulson’s words, paragraph by paragraph, to shed some truth of the situation.  Here’s a snippet:

[Paulson writes:]

I have always said that the decline in the housing market is at the root of the economic downturn and our financial market stress. And the economy, as it slows further, threatens to prolong this decline, as well as the stress on our financial institutions and financial markets.

My Comment: Um, no, Hank, sorry, this is not true. Here are some recent quotes from you:

April 20, 2007 — “I don’t see (subprime mortgage market troubles) imposing a serious problem. I think it’s going to be largely contained.”

July 26, 2007 — “I don’t think it [the subprime mess] poses any threat to the overall economy.”

This article by Chris Martenson is quite revealing, even entertaining (if you’re into black comedy).  Read the whole thing here.