[Ancien_Opus]

IMO the current administration is entering the self destruct phase. Confidence from foreign investors will tumble with this news so look for
a dropping dollar and similar impact on the stock market.

[Ayoob]

He looks like a hard charger. Nobody makes partner at GS sitting on their ass. Barrington, IL is a very wealthy area, BTW. I have some family in that direction and some climbed up and made it but most fell by the wayside. Good for him, I support his nomination.

'Course he won't be PO-aware and won't make policy with depletion in mind. Growth growth growth.

He looks like a good guy to me.

[Cynus]

What's amazing is that he's a staunch environmentalist. He's the head of the Nature Conservancy. Obviously Bush wanted him for his reputation on Wall Street and internationally, but what does Paulson get out of this? The only reason I could think for quitting GS to become Sec Treas, is that he's bargained environmental concessions out of Bush and Co.

[Kingcoal]

...he's also known for his ability to think through emergencies... Maybe GWB is bracing for disaster.

[MrBill]

$this->bbcode_second_pass_quote('seahorse2', 'M')r. Bill and everyone else,

What do you think of Henry Paulson who was just nominated to be the next US Treasury Secretary?

Paulson Wikipedia

I don't know anything about him, but found his history beginning with the Nixon Administration interesting and his contacts with China interesting.

[LadyRuby]

Funny...

'Heckuva job, Hanky' - How Paulson Became Treasury Secretary

[MrBill]

In general, a thumb's up from The Economist
$this->bbcode_second_pass_quote('', 'A')FTER months of speculation, the death watch for John Snow’s lacklustre stint as America’s treasury secretary is finally at an end. On Tuesday May 30th, George Bush nominated Henry Paulson, who is currently the head of Goldman Sachs, to take over from Mr Snow.

A sharp drop in America’s stockmarkets followed the announcement and undoubtedly caused a nasty shock at the White House. But that appeared to be due to other news, of disappointing sales at Wal-Mart, rather than a reaction to Mr Paulson, who is widely admired on Wall Street. Indeed, comparisons will undoubtedly be made with Robert Rubin, an earlier Goldman Sachs chief who became treasury secretary under President Bill Clinton. Under his stewardship, America successfully rode out several international financial crises, and enjoyed a long period of robust growth and deficit reduction.

[Chaparral]

$this->bbcode_second_pass_quote('MrBill', '
')Well, my off the cuff answer is that Goldman Sachs can now take the US economy private with a management buy-out; re-capitalize it; sell-off the bits that don't make any economic sense to someone else; avoid the hassles of public disclosure and scrutiny; and then when the time is right, float it again in the biggest IPO the world is ever likely to see; making its private shareholders a fortune?

[MrBill]

$this->bbcode_second_pass_quote('Chaparral', '')$this->bbcode_second_pass_quote('MrBill', '
')Well, my off the cuff answer is that Goldman Sachs can now take the US economy private with a management buy-out; re-capitalize it; sell-off the bits that don't make any economic sense to someone else; avoid the hassles of public disclosure and scrutiny; and then when the time is right, float it again in the biggest IPO the world is ever likely to see; making its private shareholders a fortune?

[DantesPeak]

New Treasury Secretary Henry M. Paulson, proclaimed to be the new independent thinker in the adminstration, proposes mostly the same-old 'market-based' solutions to US energy problems - including "do[ing] more on the supply side". He also mostly blames strong worldwide economic growth for $3 (US) a gallon gasoline, but goes on to mention that oil demand exceeds supplies (but nothing about the impact of PO).

Please note in comparison, Energy Secretary Bodman, on oil prices and energy security, seems to take a more realistic approach than the new man Paulson with 'his own ideas'. For example, Bodman does not say oil prices are going down.

$this->bbcode_second_pass_quote('', 'A')nother serious long-term structural challenge is energy security. Today this is top of mind for many Americans because they are paying about three dollars per gallon at the gas pump – a cost that generates real hardship for all those who are trying to make ends meet. These prices are largely attributable to a strong global economy that brings with it an increasing demand for oil, particularly in rapidly growing and developing emerging markets such as China and India.

The fact that our economy has remained strong in the face of these high oil prices is a testament to its remarkable resilience. The global demand for oil is outstripping supply and we as a nation have a long-term structural problem:

We consume much more oil than we produce.
We are too dependent on foreign sources of oil.
And too much of it comes from troubled parts of the world.
And this will still be true if gas prices decline.

The President and this Administration are focused on this problem, and have made important proposals and progress in a number of areas. But everyone I have talked with, from the President, to Sam Bodman, our Secretary of Energy, to Senators and Congressman on both sides of the aisle, agree that much more has to be done. It is a major long-term challenge and one we need to fix through a comprehensive approach. We need to do more on the supply side, and we need to do more to conserve energy. In addition, we need to do much more in terms of investing in new technologies and further developing alternative sources of energy, including nuclear power and ethanol. In doing so, we need to encourage market-based solutions. Moreover, an energy policy that takes us toward greater energy security should also lead to cleaner air and cleaner water.

[seahorse2]

Why doesn't he do us all a favor and talk about the Hirsch report, bring it into the public debate, the DOE commissioned it, so its time to bring it out - maybe the rest of the country and Congress would get serious.

[mekrob]

$this->bbcode_second_pass_quote('', 'W')hy doesn't he do us all a favor and talk about the Hirsch report, bring it into the public debate, the DOE commissioned it, so its time to bring it out - maybe the rest of the country and Congress would get serious.

[grabby]

Hiting the nail on our head.

The reason we will never ever be able to save ourselves is:
Because of politics
and
Because we are a democracy.

The only country doing well is china.
(I would not live there fror any money dont get me wrong)

they are scarfing up 1 billion barrels of oil a year and putting it into the ground building huge hydro projects and converting coal to oil
they arenet even worried about ethanol they arent stupid.
seems like when you are watching your own neck, and you have pure authority you can get things done.

[DantesPeak]

Least anyone misinterpret me, (which I don't think anyway), the present and the two previous Treasury Secretaries are very competent for this position. I suppose, however, one would never take such a job unless one was totally committed to the party line - or at least not going to be the person to say that PO is here, or the US dollar must fall over the long run, etc..

The 'market based solution' talk is the most politically correct way of talking about this problem at present. So yes, there are flaws in our democratic process because the truth is not welcome.

[rogerhb]

$this->bbcode_second_pass_quote('grabby', 't')hey are scarfing up 1 billion barrels of oil a year and putting it into the ground

[OZ_DOC]

$this->bbcode_second_pass_quote('mekrob', '')$this->bbcode_second_pass_quote('', 'W')hy doesn't he do us all a favor and talk about the Hirsch report, bring it into the public debate, the DOE commissioned it, so its time to bring it out - maybe the rest of the country and Congress would get serious.

[Kristen]

maybe we should move to china, at least then we could take five and chill. we might not get our happy pills there!

[rogerhb]

$this->bbcode_second_pass_quote('OZ_DOC', 'I') think the majority of people on the right would argue that we have more than 15 years to peak and would therefore not be particularly concerned about the report.

[basil_hayden]

Why the Treasury Secretary is seeking energy solutions is beyond me, isn't that the Energy Secretary's job? Why isn't Bodman doing it?

This is the kind of thing that for me points to the whole scam of it all, that none of this high cost is real, just economic raping and pillaging. Oil's not the problem, the Dollar is.

Either there's nothing that can be done, so party on, or something can be done but it's not economical for TPTB, so party on.

[kathaksung]

Is it true? Why not reported by US media?

Quote, "U.S. TREASURY SECRETARY ARRESTED IN GERMANY
PAULSON AND CHENEY SUBPOENAED BY TRIBUNAL
Saturday 30 December 2006 20:05
U.S. TREASURY SECRETARY HENRY M. PAULSON HAS BEEN ARRESTED IN EUROPE

SENTENCING INFLICTS EXTREME DISGRACE UPON THE UNITED STATES GENERALLY

U.S. TREASURY SECRETARY SEIZED AND BROUGHT BEFORE 'AD HOC' TRIBUNAL IN GERMANY ON A SUBPOENA HANDED OUT BY THE INTERNATIONAL COURT OF JUSTICE [OR 'WORLD COURT'] ON CHARGES OF MONEY-LAUNDERING, NON-PAYMENT OF THE WANTA $4.5 TRILLION AND FOR MISAPPROPRIATION AND/OR DIVERSION OF COLOSSAL $ SUMS.

VICE PRESIDENT CHENEY LIKEWISE AT THE RECEIVING END OF PARALLEL SUBPOENA FOR SIMILAR CRIMINAL OFFENCE(S).

GERMAN AUTHORITIES EXERCISED THE INTERNATIONAL SUBPOENA, BRINGING PAULSON (AND CHENEY) UNDER GERMAN JURISDICTION, GIVEN THAT GERMAN BANKS TRYING TO MAKE THE WANTA PAYMENT WERE TWICE PREVENTED BY MR PAULSON FROM DOING SO. WHEN THIS HAPPENED THE SECOND TIME, PAULSON WAS ARRESTED.

PAULSON CHARGED WITH DIVERSION OF FUNDS AND WITH NON-PERFORMANCE OF WANTA’S $4.5 TRILLION: HE WAS ARRESTED AFTER SEEING MME ANGELA MERKEL, WHO WOULD OTHERWISE BE COMPLICIT IN THE $4.5 TRILLION THEFT (WHICH OF COURSE SHE IS NOT). BUT THAT WAS THE SITUATION.
http://www.worldreports.org/news/38_pau ... d_cheney_s

Lawyer Ends Up Dead After Taking On Rove
Wednesday December 27th 2006, 10:26 pm
It’s fishy as hell.