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Hank "3 Page Blank-Check Term Sheet" Paulson Issues First Mutual Assured Destruction Statement Since Retirement

Tyler Durden's picture




 

Earlier today, the man who first took Mutual Assured Destruction and converted it into an artform, former Goldman Sachs Treasury Secretary Hank Paulson, sat down with his materially more intellectually challenged successor over breakfast, supposedly to discuss the economy, but really to tell TurboTax how to really scare the briader Joe Sixpackery about what will happen should the kleptocratic status quo see a drop in its cumulative checking account or if, heaven forbid, "risk" is once again mentioned in the same sentence as "return." Stuttering Hank, sick and tired of not being able to threaten the general sheeple with fire and brimstone, has thus taken this opportunity to reinforce the end of the world scenarios so poignantly presented Tiny Tim and released the following statement (via the WSJ) following his breakfast:

“Now is the time for action on both raising the debt ceiling and
tackling the U.S. debt and deficits through significant and lasting
spending reduction, entitlement reform and tax reform. Our growing debt
is the single largest threat to our nation’s future. Real reform that
puts us on a sustainable fiscal path is critical to U.S. economic
competitiveness. This is not an easy task, and will involve tough
decisions on all sides. I am confident that this administration and
Congressional leaders in both parties are working in good faith toward a
solution. And the sense of urgency is clear – failing to raise the debt
ceiling would do irreparable harm to our credit standing, would
undermine our ability to lead on global economic issues and would damage
our economy.

Good old Hank: can always rely on him to stick to the script when his old friends from Goldman come calling. In other news: nobody gives a rat's ass.

 

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Sun, 07/24/2011 - 09:59 | 1486974 DavidC
DavidC's picture

It was close, so close...!

Fri, 07/22/2011 - 11:20 | 1480825 the not so migh...
the not so mighty maximiza's picture

"...would undermine our ability to lead on global economic issues.."  hilarious, this guy is a comedian

Fri, 07/22/2011 - 11:22 | 1480831 Seasmoke
Seasmoke's picture

shove that crooked pinky up your ass

Fri, 07/22/2011 - 11:39 | 1480926 Hubbs
Hubbs's picture

That's called a mallet finger. If it were a bigger mallet, he could use it to hit himself on the head. I don't know if it is just me, but the way he talks, and what he says in such a way as if saying, I'm a Wall Streeter, so I am supposed to make lots of money, now what were we discussing?

Fri, 07/22/2011 - 11:22 | 1480834 GiantWang
Fri, 07/22/2011 - 11:24 | 1480847 New American Re...
New American Revolution's picture

Fuck that worthless piece of dog shit and prosecute him along with the rest of the criminal elite, put them in solitary confinement and throw away the key.

Fri, 07/22/2011 - 11:30 | 1480864 GiantWang
GiantWang's picture

When will someone start publishing the home addresses of elite bankers and pseudo-politicians like Paulson for protests Versailles style?

Fri, 07/22/2011 - 11:42 | 1480941 Hubbs
Hubbs's picture

Better yet, GPS coordinates, and stock pile some JDAMS.

Fri, 07/22/2011 - 12:45 | 1481267 KingdomKum
KingdomKum's picture

Touche !

 

need more comments like this to rattle the sheeple to action  .  .  . 

Fri, 07/22/2011 - 11:31 | 1480871 Village Smithy
Village Smithy's picture

"Our growing debt is the single largest threat to our nation’s future." This phrase and the many like it have almost come to accepted as conventional wisdom. That is frightening because something else then is really the largest threat. Don't get me wrong this debt thing is critical but what else is it that we should be fearing more?

Fri, 07/22/2011 - 11:32 | 1480877 monopoly
monopoly's picture

That man should be in a prison in Iraq with other Taliban despots. What a pathetic excuse for a human being.

Fri, 07/22/2011 - 11:37 | 1480905 AlaricBalth
AlaricBalth's picture

Does anyone seriously care what Paulson has to say?

Fri, 07/22/2011 - 11:59 | 1480906 zebrasquid
zebrasquid's picture

He, and his cohorts, blindfold us and take us out to a ledge, then scream how precarious it is out there, then shakes us down for all our money to save us from the fall, and then claim hero status.

When does this madness finally end?   When we take such leaders out to a ledge of our choosing, and push them over --  Hank, Barney, Tim, Jamie.. they all need to go on a little walk..

Fri, 07/22/2011 - 11:35 | 1480907 lunaticfringe
Fri, 07/22/2011 - 11:36 | 1480912 williambanzai7
williambanzai7's picture

Fri, 07/22/2011 - 12:25 | 1481158 sdmjake
sdmjake's picture

Bernanke's stubble is artistic genius of the highest order

Fri, 07/22/2011 - 12:25 | 1481162 Jim B
Jim B's picture

+1 Paulson you s@ck!  and take your TARP with you!

Fri, 07/22/2011 - 11:49 | 1480973 White.Star.Line
White.Star.Line's picture

"Our growing debt is the single largest threat to our nation's future"

Well, Hankey..........

Since you helped to exponentially increase it through your traitorous graft programs such as TARP, this would infer that YOU are a threat to our nation's future.

Fri, 07/22/2011 - 11:51 | 1480987 Bansters-in-my-...
Bansters-in-my- feces's picture

Ya..Ya... That's it... Lets raise the Debt ceiling.... So we can save money..... and reduce debt.... The fucking physcos are running the fucking nuthouse. And is H Paulson not dead yet...??? Sometimes,Time sure drags on....

Fri, 07/22/2011 - 11:52 | 1481000 Vendetta
Vendetta's picture

Our military needs to 'take care' of this financial terrorist

Fri, 07/22/2011 - 12:26 | 1481167 Moe Howard
Moe Howard's picture

+7.62

Fri, 07/22/2011 - 12:31 | 1481195 Tuco Benedicto ...
Tuco Benedicto Pacifico Juan Maria Ramirez's picture

Unfortunately our military works for Paulson and his fellow globalists.

 

Tuco

Fri, 07/22/2011 - 16:38 | 1482476 Iam_Silverman
Iam_Silverman's picture

"Unfortunately our military works for Paulson and his fellow globalists."

Yep, true.  But they also realize that there is a very obvious Catch-22.  If they can't sell more debt, how will they pay the military?

Fri, 07/22/2011 - 11:58 | 1481027 Bartanist
Bartanist's picture

This from the kloptocrat who undermind the USA Constitution, the free market, pretty much every fiancial and fraud law on the books ... so that he and his buddies could enhance their unearned standard of living.

I am thinking that he should STFU and hide under a rock, where he belongs. I don't see how treasonously selling out 300 million people gives him the right to anything.

Fri, 07/22/2011 - 12:00 | 1481040 sbenard
sbenard's picture

More fear-mongering! And they call US doom and gloomers!

Don't buy the lie!

Fri, 07/22/2011 - 12:10 | 1481078 pops
pops's picture

"damage our economy" ???

Christ almighty, man, look at the dam thing already!  Them dents aint a'goin to polish out.

 

Fri, 07/22/2011 - 12:19 | 1481125 Pool Shark
Pool Shark's picture

 

Hank Paulson DIAF!

 

Fri, 07/22/2011 - 12:22 | 1481137 Waterfallsparkles
Waterfallsparkles's picture

The Banks and Hedge Funds have so much profit from the 2 year run up.  They do not want to Sell because they would have to pay Capital Gains Taxes.

That 15% tax rate would really hurt their bottom line.

Fri, 07/22/2011 - 12:27 | 1481175 DavosSherman
DavosSherman's picture

THE WORST TREASURER EVER - EVEN WORSE THAN GEITHNER AND THAT IS REALLY BAD.

Fri, 07/22/2011 - 12:47 | 1481281 slewie the pi-rat
slewie the pi-rat's picture

his signature is on a lot of these FRNs, too 

souvenirs from hell

Fri, 07/22/2011 - 12:30 | 1481188 youngman
youngman's picture

It must mean the GS is going to take a haircut.....otherwise he would be silent....the Dems just shut down CCB in a close vote I thought....to me the ball is in Harry Reid´s hands now....

Fri, 07/22/2011 - 12:33 | 1481208 Pool Shark
Pool Shark's picture

 

Actually, I think the ball is on the ground... Harry fumbled it.

btw, I too was surprised at the margin on CCB in the Senate: 51/46.

 

Fri, 07/22/2011 - 12:33 | 1481199 The Grifter
The Grifter's picture

I say let's raise the debt ceiling - but only issue new debt with these

 

http://catalog.usmint.gov/webapp/wcs/stores/servlet/ProductDisplay?catal...

 

 

Fri, 07/22/2011 - 12:41 | 1481248 Waterfallsparkles
Waterfallsparkles's picture

The Banks have a huge position in Credit Default Swaps on the United States.

They have crumbled other Countries like Ireland, Greece and now need to move on to the US.  It is imperative that the Debt of the US gets so large that it cannot be paid and the Us becomes Bankrupt.

That is the only way their Credit Default Swaps will pay off.

Fri, 07/22/2011 - 13:02 | 1481338 slewie the pi-rat
slewie the pi-rat's picture

hey, wfs!

how about the BigBadBanksterBag move?

1) the congo and prez0 stage a huge catfight
2) we default.  this would also be a harbinger of doom for other goobermint bond markets, too.
3) prices plummet as the FED announces: "Deflation wins, BiCheZ!"
4) then the FED buys up about 70% of all US People's debt @ abt 11 cents on the dollar.   with freshly-printed green stamps, no less
5) the FED has a big bonfire with the debt and says:  "There!  Hahaha!"  as
6)The People commission another "mt rushmore" for the chairsatan, prez0, and timmah

too obvious?

Fri, 07/22/2011 - 21:06 | 1483633 Milestones
Milestones's picture

Pay off by whom pray tell--and with what; to whom???     Milestones

Fri, 07/22/2011 - 12:52 | 1481288 Dr. No
Dr. No's picture

They say history repeats.  With Paulson being brought into the politics, will we repeat 2008, where the House voted down TARP and we lost 600 pts on the dow?  Will they vote down debt ceiling and we get a huge down draft panic?

My parents still live in the sixth district and they like to complain about Bachmann, but I always counter with "she voted No to TARP".  That makes for a short list of the current pres canidates.

Fri, 07/22/2011 - 12:59 | 1481311 TruthInSunshine
TruthInSunshine's picture

Expect to see the mother of all bullshit intended for sheeple consumption statements by Bernankio and/or Jeetner today prior to 4 pm:

Why do they have to tell the world that they met to discuss this matter? Oh, I know - because they're 'deeply worried' behind the scenes! This is a classic technique in theater first used by the Greeks, whereby actors would act off to the side of the stage, while the main show would go on center stage, to give the audience the impression that there was some greater dynamic at work than what they were 'supposed' to witness or see.
Fri, 07/22/2011 - 12:56 | 1481316 Sambo
Sambo's picture

HP had to sell his GS shares before taking on the Treasury Sec job. This is reqd by law. So the Bush govt & the lawmakers made it profitable for Tr Secs by not imposing capital gains taxes on such transactions. HP saved millions of dollars by avoiding taxes.

Are you still wondering why there is a huge budget deficit?

Fri, 07/22/2011 - 13:05 | 1481347 jkruffin
jkruffin's picture

Wow, they are bringing out all the banking scumbags to try and scare people now. Who is going to believe anything is asshole says, when he lied to Americans to get his little TARP bailouts and sail off into the sunset with fat checks from his banker buddies?

You would think these morons would crawl in a hole, and pray no one blowed their brains out, but they keep wanting to stick their heads out and put their worthless two cents in the mix.

Default is exactly where the US needs to go....along with Greece and the rest of them.  A complete reset is the only way out now.  The rest is smoke and mirrors.

Fri, 07/22/2011 - 13:06 | 1481352 jkruffin
jkruffin's picture

Now is the time for Paulson to STFU!!!!

Fri, 07/22/2011 - 13:10 | 1481368 redarrow
redarrow's picture

Yeah right. The last time you used fear to override the congress by making them ignore public opinion that was 100:1 and forced them to vote for a bailout using some backdoor mechanism. Where are we? Still at 9.2% unemployment and nothing has been marked to market but instead to make believe. How about you once close your stuttering mouth and go away?

Fri, 07/22/2011 - 13:19 | 1481398 AlaricBalth
AlaricBalth's picture

Hank Paulson, today - "Our growing debt is the single largest threat to our nation's future"

Barack Obama, 2009 - "Our current healthcare system is the single largest threat to our nation's future"

Janet Napolitano, 2011- "Domestic terrorism is the single greatest threat to our nations security."

Al Gore, 2006 - "Climate change is the biggest threat to our nations future."

GW Bush, 2006 - " America's dependence of foreign oil is the single biggest problem affecting our nations future."

I could continue ad nauseum, but the point is clear. The culture of fear which is being propagated upon the American people by our politicians and other so-called leaders continues to be an effective method of pursuasion and control. Fear obscures reason, clouds judgement, promotes intense emotion and makes individuals more pliant.

Using fear as a political and societal engineering tool has been prevalent throughout history. Nazi Germany perfected its use to mobilize its people against a perceived common enemy. Military contractors use fear to promote their defense of the American way of life. The media sensationalize our irrational fear of anything to keep us mesmerized in front of the TV, thereby increasing ratings and raising profits through greater ad revenue. The pharmaceutical companies have raised the propagation of fear to an art. How many new diseases can they come up with? 

IMHO, the single greatest threat to our nations future is FEAR.

Franklin Roosevelt said it best, "the only thing we have to fear, is fear itself."

Fri, 07/22/2011 - 13:18 | 1481414 AldoHux_IV
AldoHux_IV's picture

This guy should be in jail for orchestrating one of the biggest thefts this country has seen in the bailing out of failed institutions.

Fri, 07/22/2011 - 13:21 | 1481430 myshadow
myshadow's picture

geez, no shit, mr.hankey

Fri, 07/22/2011 - 13:22 | 1481439 myshadow
myshadow's picture

geez, no shit, mr. hankey

Fri, 07/22/2011 - 13:22 | 1481441 myshadow
myshadow's picture

geez, no shit, mr. hankey

Fri, 07/22/2011 - 13:47 | 1481528 Justaman
Justaman's picture

Did someone call?  HiDeeHo Bitchez!

Fri, 07/22/2011 - 13:22 | 1481442 DosZap
DosZap's picture

Well ,if the .gub would tax the shit out of this dick,(can't do that to suck buddie donors can we?)and MANY others like it,maybe we could ease the PLIGHT of the Spending Ninnies.

http://beta.news.yahoo.com/blogs/lookout/g-e-paid-no-taxes-5-1-billion-20110325-082417-878.html

GE reports 21.6% rise in profit, $3.8B...

Fri, 07/22/2011 - 13:27 | 1481450 TruthInSunshine
TruthInSunshine's picture

 

Senator Obama's Floor Speech, Voting Against a Debt Ceiling Increase, on March 20, 2006 :

 

The fact that we are here today to debate raising America’s debt limit is a sign of leadership failure. It is a sign that the U.S. Government can’t pay its own bills. It is a sign that we now depend on ongoing financial assistance from foreign countries to finance our Government’s reckless fiscal policies. … Increasing America’s debt weakens us domestically and internationally. Leadership means that “the buck stops here.” Instead, Washington is shifting the burden of bad choices today onto the backs of our children and grandchildren. America has a debt problem and a failure of leadership. Americans deserve better.

Fri, 07/22/2011 - 13:31 | 1481483 LawsofPhysics
LawsofPhysics's picture

Where is this guy now?  Didn't he also make one other rant against the wars?  Now he takes us from two to three wars.  "buck stops here" - my ass.

Fri, 07/22/2011 - 13:31 | 1481481 glenlloyd
glenlloyd's picture

We get this from the man who gave billions to crony friends.

Apparently he doesn't see the inconsistency of his statement. To tackle the US debt problem would imply spending cuts, not more debt.

Fri, 07/22/2011 - 13:51 | 1481539 PhattyBuoy
PhattyBuoy's picture

This shit made my blood boil 2.5 years ago ...

It still makes my blood boil !!

Fucking prick ...

Fri, 07/22/2011 - 13:56 | 1481556 MFL8240
MFL8240's picture

Get fuc_ed you criminal!

Fri, 07/22/2011 - 14:05 | 1481576 MFL8240
MFL8240's picture

Isnt this the same liar that told the American people that if we didnt go along with the $700 BILLION bailout to his friends on Wall Street the world would implode?  Is this that same guy who took taxpaper money handed it to the criminals who caused the crises and allowed them to get multi million dollar bonues while their companies should have been liquidated?  Is this that same liar that worked at the criminal cabal known as Goldman Sachs that is reponsible for more economic harm to more people in this world than any other group of people? If so, FU Hank!

Fri, 07/22/2011 - 14:12 | 1481597 cosmictrainwreck
cosmictrainwreck's picture

yes..... it's the same guy, all right.... lulz. "like a bad penny". Stretches the imagination to Outer Limits... and that's saying a lot, with all the beyond incredible BS going on

Fri, 07/22/2011 - 14:23 | 1481658 Chuck Walla
Chuck Walla's picture

We still have a credit standing?  Who knew?

Fri, 07/22/2011 - 17:14 | 1482616 McUSA
McUSA's picture

GFY Hank.  I think he's looking to pad his stock holdings as GS is about to implode.  What a Santorum slurper!  Give Blanken 'the ship is fucking sinkin' fein the tongue lick on his balz next time you go down on the knees to dp throat him. 

Fri, 07/22/2011 - 17:14 | 1482617 McUSA
McUSA's picture

GFY Hank.  I think he's looking to pad his stock holdings as GS is about to implode.  What a Santorum slurper!  Give Blanken 'the ship is fucking sinkin' fein the tongue lick on his balz next time you go down on the knees to dp throat him. 

Fri, 07/22/2011 - 21:32 | 1483737 UP4Liberty
UP4Liberty's picture

Hank,

Please go F**K yourself.

Fri, 07/22/2011 - 21:33 | 1483748 UP4Liberty
UP4Liberty's picture

Hank Paulson = TRAITOR

Hank Paulson = LIAR

Hank Paulson = THIEF

Fri, 07/22/2011 - 22:24 | 1483926 agrotera
agrotera's picture

Friday TARP was passed, I was terrified by Paulson's power--i prayed for his righteousness, my prayers were not met because my worst fears were matched with his actions over the weekend when he passed out money to the bank cartel heads at treasury....then said it was to keep lending flowing...700 billion dollar bazooka LIE to the citizens of the United States and the biggest heist in the history of man.

I posted an articl in 2009 from a MN newspaper where the CEO of US Bancorp revealed to a lunch crowd that treasury instructed him to sign for TARP and to tell the public it was for loans, but to not use it for that purpose, use the money to do darwinian cleansing and buy little banks....in other words, Paulson LIED and then proceeded to instruct the recipients to LIE to the public from whom the money and trust was borrowed.

This man put our country in long term jeopardy.

i think one word when i think about the tag team hank/ben--treason.

Sat, 07/23/2011 - 09:31 | 1484436 ssasoo.ahmad
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Sat, 07/23/2011 - 11:33 | 1484625 Coldfire
Coldfire's picture

"Our" credit standing? L'etat, ce n'est pas moi, Hank. Go back into hiding, you goddamned hump.

Do NOT follow this link or you will be banned from the site!