Tuesday, May 30, 2006

New Treasury Sec Nominated

I knew that they guy couldn't be too bad since he is a Dartmouth grad, but it looks like he may be better than I originally thought.

Apparently Henry M. Paulson Jr., currently the chief executive of Goldman Sachs, is at least somewhat based in reality, and has stated that it is in America's best interest to join the Kyoto protocol. Paulson sits on the board of the Nature Conservancy who's statement on the matter is this:

Even though companies here in the United States are not subject to Kyoto’s emission caps, U.S. companies that operate in nations complying with the Kyoto Protocol do have to meet those countries’ caps. Until the United States passes its own limits on global warming emissions, innovative companies based here will lose out on opportunities to sell reduced emission credits to companies complying with the Kyoto Protocol overseas. Additionally, without enacting our own emission limits, U.S. companies will lose ground to their competitors in Europe, Canada, Japan, and other countries participating in the Protocol who are developing clean technologies.

Paulson is such a "moonbat" on the issue that many wingnut think tanks have lobbied against his nomination (Free Marketer: Don't select Goldman Sachs chairman). If the loonies are against him, he probably has some merit. The Freepers are probably going nuts right now.

I have often argued the same line of thought as Paulson. Opting out of Kyoto makes us weaker in the long haul. Unfortunately, I doubt that as treasury sec, he will get too much say on the issue. But at least there will be someone at the cabinet meetings with their head on straight.

Paulson Nominated as Treasury Secretary
By Fred Barbash and Peter Baker
Washington Post Staff Writers
Tuesday, May 30, 2006; 12:30 PM

President Bush named Henry M. Paulson Jr. , chief executive of Goldman Sachs, as the new Treasury secretary this morning to replace John W. Snow.

Bush made the announcement at 9:15 a.m. from the Rose Garden, saying Paulson would be "the leading force on my economic team."

Paulson would be the first Wall Street figure to hold the post during the Bush administration. Paul H. O'Neill and Snow were industrial executives. The appointment, which requires Senate confirmation, underscores the traditionally heavy Goldman Sachs presence in top economic policy jobs in Democratic as well as Republican administrations in Washington, represented in recent years by Clinton Treasury Secretary Robert Rubin and Bush economic adviser Stephen Friedman.

The administration is said to have been dissatisfied with both previous Treasury secretaries, believing that they could have done more to get credit for the administration for economic growth.

(Full Story)

Update: Yup, checked out the Freepers... they ain't happy

Want to get a simple idea of what [former Goldman Sachs] Corzine and his [Goldman Sachs] cronies do... watch the movie "boiler Room" only think of it being done by a lot of rich and liberal jewish and secualr socialists with thugs to back them.

President Bush... Who abducted you and when?

This is indeed puzzling!When is"W"FINALLY going to come to grips with the fact that"Making Nice"with The LEFT doesn't work???????????

I've reluctantly concluded that while the President gives lip service to free market principles, he is essentially a crony capitalist, like Ferdinand Marcos.

I held out hope for years that he, unlike his father, was something of a stealth supply-sider. Now I wish I could just give him credit for being a misguided but principled Keynesian, but even that is not supported by his nominations.

I'm mad about this nomination. It will go quite a long way in offending the base and ruining the next election.

Paulson also supports the economy-killing Kyoto Protocol and has demonstrated little respect for private property rights.

I'd bet my mother that Paulson will not fight for permanent long-term tax reform, be it a flat tax, NRST, or any other option that limits the preferences to the companies run by his friends in the liberal social world.

The very second we heard the words ''Goldman Sachs'', the ONLY reasonable response to this nomination became ''no effing way''.

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