Paulson, the First Subprime-Baller?

by Johnny Debacle

Paulson says “[the bailout bill] is much too important to simply let fail. We need to work as quickly as possible. We need to get something done.

He can’t get IT done, but he thinks we need to get SOMETHING done. That is decidedly NOT getting IT done.

Recommendation: If you are planning to build a CDO where the underlying assets are Hank Paulson Paper, good luck with that. And no, we have no interest in the equity tranche, the AAA tranche or any other part of the structure, thanks.

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