The Difference Between Paulson and Congress

I think this statement is case-in-point how much smarter Paulson is then anyone on any finance committee in Congress.

The notion of an RTC solution for the financial sector today was first mentioned this week by House Financial Services Committee Chairman Barney Frank, D.-Mass. But his Senate counterpart, Chris Dodd, D.-Conn., indicated that such a solution would be a long time coming -- at least until after the November elections.

But on Thursday, as the markets wavered back and forth into negative territory, digesting the dramatic events of the past few weeks, CNBC reported that Paulson was formulating an RTC plan already. A call and email message to the Treasury to confirm the report was not immediately returned.

While Paulson is doing yeoman's work trying to keep everything going at once Dodd just sits around and says "wait until after November, uh I haven't been briefed." I'm sure Paulson has had that RTC plan formulated months ago just-in-case it all went pear shaped. Paulson is the fricken Geordi La Forge of Finance.

While on the other hand it is absolutely criminal how dumb Chris Dodd is. He would wait until after the elections to do anything? Why, so the economy can be a political issue while world markets are roiled and hundreds of thousands of people are thrown out of work due to a financial market crisis?

Um, Senator Dodd, November might be too late. I guess he wants to go around saying "I hadn't been briefed" over and over while the American Financial System becomes a smoking crater. Maybe Paulson should brief Dodd with a specially prepared cartoon created by the Treasury department and maybe a puppet show just to hammer the points home. Looking at this resume you can see the truth about Senator Dodd.

Lets see he had a bachelors in English Lit. from Providence College, then the Peace Corps, and then the Army Reserve. Then a lawyer, then a Congressman, and Senator. Great stuff for a figurehead for a nonprofit but nothing about finance or banking in that stuff at all.

It seems like the only time he was in a financial institution was so he could get that sweetheart loan from Countrywide. In fact Dodd isn't qualified to run a Starbucks let alone the House Banking Committee. In any case I think Paulson deserves the medal of freedom or a fruit basket or something for saving everyone's 401Ks. Dodd should just shut his trap and let the adults do the real work.