Manages Parisian Family Office. Began Wall Street, 82. Founded investment firm, Native American Advisors. Member, White Earth Chippewa Tribe. Was NYSE/FINRA arb. Conservative. Raised on Native reservations. Pureblood, clot-shot free. In a world elevated on a tech-driven dopamine binge, he trades from Ghost Ranch on the Yellowstone River in MT, his TN farm, Pamelot or CASA TULE', his winter camp in Los Cabos, Mexico. Always been, and will always be, an optimist.

Monday, October 20, 2008

Hank "sign here, we're injecting you" Paulson.........

Ben Bernanke and Hank Paulson spoke Monday to alternatively discuss the need for another economic stimulus package and make the case for the bailout efforts taken to date.
Many issues about the rescue plan and the economy remain unanswered, but a more fundamental question remains: Are the Fed chairman and Treasury secretary up to the job?
A resounding "no" is the answer from Christopher Whalen, managing director at Institutional Risk Analytics, who is particularly critical of Paulson.


The Treasury secretary is "grotesquely conflicted" in his efforts to bail out his former employer, as detailed here, and has found "common cause" with an overly lenient Fed chairman.
"They have a bias to preserve the derivatives market" -- the riskiest part of Wall Street, Whalen says, noting the government let Lehman and Bear fail but bailed out AIG and (according to Whalen) rescued Goldman Sachs and Morgan -- at least for the time being.

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