Former US Treasury Secretary Hank Paulson: Laughing all the way to the bank.
Editor's Comment: Not only did each of these three former Treasury Secretaries yuck it up in a public forum about the frightening growth of income inequality, each played a pivotal role in the larger criminal enterprise of the banksters. Robert Rubin, Treasury Secretary under Clinton, legalized derivatives and opened up a world of hurt. Under George W. Bush, Hank Paulson - after playing wrecking crew at Goldman Sachs - essentially threatened Congress with economic martial law if they didn't give into the bailout.
Under Obama, little Timmy Geithner, after playing ball for the megabanks at the insiders New York Fed, made sure that the aftermath of the bailout never resulted in any serious fingerpointing at the bankster culprits, and that all the cars where saddled with huge cash payouts before making their getaways. And now here they are... not even in hiding, and quite literally laughing in everyone's faces!
You may remember Henry "Hank" Paulson as the former Goldman Sachs banker who later became the Treasury Secretary in the final years of the Bush administration. He was also the man who proposed the $700 billion bailout for the bankers in 2008 (which included a bailout for his buddies at Goldman Sachs).
Last April, Hank Paulson and Robert Rubin sat down for an interview with Tim Geithner and Sheryl Sandberg at the Milken Institute. During the lengthy discussion, Paulson was asked about wealth inequality, which led to this hilarious exchange.
Oh my sides! It's so damn funny. All those millions of Americans who can't find work and have to live on food stamps! That's a real knee slapper.
This is what the financial elites really think about you and your problems. They laugh openly and maniacally at your poverty. If anything, this is the "let them eat cake" moment for America's ruling class.
Housing markets are prone to the bandwagon effect, they continue rising when the fundamentals vanish, a year, maybe two years before. Stock market and commodity price volatility and declines are currently chronicled ad-nausea by the press without seeing the dramatic upswing of international property price falls. What is alarming is the pace of price declines. Even countries where prices are not falling, many are witnessing a rapid deceleration in price growth.
.....Canada – “U.S. short sellers betting on Canadian housing crash: ‘An accident waiting to happen’” – Large Wall Street investors who made billions when the U.S. housing market collapsed in 2008 are now betting real estate values in Vancouver and other Canadian cities will crash – they should know!.....continued
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