Paulson, ex CEO Goldman Sachs, is Christian Scientist

[SteveGrenard]

It seems the person (Secretary of the Treasury Henry Paulson) running the $700 Billion bailout of wall street and the banks turns out to be a Christian Scientist. That's a person who doesn’t go to doctors when sick and probably imposes this faith healing religion on his family as well although we can't be sure.

I admire him for his love of nature and share many of those interests myself even though he turned down a job of leading the Nature Conservancy. Probably not enough money in it. It's no match for having your own U.S. government treasury to play with.

Chicago Sun-Times
September 28, 2008

BY MIKE THOMAS Staff Reporter
[email protected]

....(snipped) You might (like to) know Paulson is loaded himself, with a net worth estimated at $700 million. You might also have heard he's a former top exec at the investment firm Goldman Sachs.(*)

Here are some things about this man at the center of the financial storm you might not know:

• • Paulson is a nature boy extraordinaire. According to Fortune magazine, as a young man, Paulson wanted to be a forest ranger. After getting married, he and his wife settled on a chunk of his family's land in Barrington and kept a host of animals including raccoons, flying squirrels, alligators, mice, birds, dogs, cats, turtles, frogs, lizards, a tarantula and snakes. When the Nature Conservancy was looking for a new chief executive officer several years back, he was asked but turned the job down.

• • Paulson is a Christian Scientist. His religion, he told Fortune, is one in which "you emphasize love, as opposed to fear. I think fear in young kids is the biggest inhibitor to success."

• • Paulson once worked at the White House for Richard Nixon aide John Ehrlichman, who did slammer time for his involvement in Watergate.

More stuff at:

http://www.suntimes.com/news/nation/1189168,CST-NWS-paulson28.article

(*)But then, more relevantly , there is this from Bloomberg News:

Blankfein's $70 Million Would Survive Paulson's Rules (Update2)

By Ian Katz and Rebecca Christie

Oct. 15 (Bloomberg) -- Goldman Sachs Group Inc.'s Lloyd Blankfein, whose $70.3 million paycheck made him Wall Street's most highly compensated chief executive officer last year, could still earn tens of millions annually under the bank-rescue plan run by his former boss, Treasury Secretary Henry Paulson.

Executive-pay packages will be restricted for the nine banks receiving a $125 billion infusion of U.S. funds to restart lending, said Paulson, who earned $37.8 million in 2005, his last full year as Goldman's CEO. The investment is part of a $700 billion bailout plan approved by Congress this month.

http://www.bloomberg.com/apps/news?pid=20601109&sid=aSVFHxxWCKUs&refer=home

So let me get this straight and correct me if I am wrong. The former CEO of Goldman
Sachs who walked away with a $700 Million golden parachute is now in charge of
a bailout that includes limiting remuneration of his successor, so far said to being paid $70.3 million (that’s for a year). Ooookay. To be honest I originally thought Paulson was an ace at this stuff, and he probably is. But his "apparent" conflict of interests and his belief in faith healing does give pause. How do others feel?

Geez, all these tremendous sums sorta makes JREF’S million dollar investment with
Goldman Sachs look like small change.

 

[mr rosewater]

It gets better Goldman sold the very bonds (sub-prime) and took a sort position, knowing they would fail, Goldman made a lot of money.