First, Hank Paulson pays twice market value for bank shares in the bailout package, and now we find out that the recipients of the Tresury dole will be spending lavishly on dividends
The 33 banks signed up so far plan to pay shareholders about $7 billion this quarter. Companies generally try to pay consistent dividends and, at the present pace, those dividends will consume 52 percent of the Treasury’s investment over the initial three-year term.
Paulson knows this, and he has the power to stop this, and he is not.
I we can’t find a law he broke explicitly, declare him an enemy combatant, and send him to Gitmo, because he’s done more damage to the US in the past 8 weeks than Osama bin Laden has done in his entire life.