The secret Paulson-Goldman meeting - Democratic Underground

swag

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Tue Oct-20-09 10:27 AM
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The secret Paulson-Goldman meeting

From Felix Salmon at Reuters:

Andrew Ross Sorkin’s new book is out today, and breaks some pretty stunning news, dating from the end of June, 2008. At this point, we’re still months away from the now-famous but then-secret waiver, issued in mid-September, which allowed Hank Paulson to talk to Goldman Sachs; he’d promised not to do that when he moved from Goldman to Treasury.

But it turns out that Paulson just happened to be in Moscow at the same time that Goldman’s board of directors was having dinner there with Mikhail Gorbachev. (You know, as one does.) Take it away, Andrew:

When Paulson learned that Goldman’s board would be in Moscow at the same time as him, he had Jim Wilkinson organize a meeting with them. Nothing formal, purely social — for old times’ sake.

For fuck’s sake! Wilkinson thought. He and Treasury had had enough trouble trying to fend off all the Goldman Sachs conspiracy theories constantly being bandied about in Washington and on Wall Street. A private meeting with its board? In Moscow?

. . .

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Ruby the Liberal

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Tue Oct-20-09 11:40 AM
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1. I just ordered the book

Really looking forward to reading it!

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girl gone mad

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Tue Oct-20-09 12:36 PM
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2. It's a monster.

I think it will count as your carry on item if you take it on a plane. :)

From the excerpts I've read, Geithner does not come off well during the Lehman fiasco.

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Ruby the Liberal

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Tue Oct-20-09 01:06 PM
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3. Vanity Fair had a good chunk of an excerpt

That was what convinced me to order it. I would like to see Elizabeth Warren at Treasury. She'd get that mess cleaned up and into the sunlight.

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MilesColtrane

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Tue Oct-20-09 02:12 PM
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4. I saw Sorkin interviewed on 'Charlie Rose' yesterday.

Edited on Tue Oct-20-09 02:26 PM by MilesColtrane

He said that the initial plans for TARP were being made in April of 2008.

A month later Paulson was telling the public and Congress, "The worst is likely to be behind us” and "In my judgment, we are closer to the end of the market turmoil than the beginning".

(ed. for clarity)

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