And why would he? So what if that's what plumped up his fat bonus money while at Goldman Sachs. Heck, I doubt anyone on his team ever could have figured out this market either. Why would they even bother to have anyone around with such knowledge? The Paulson imagine repair tour may have hit a roadblock. The Atlantic:
I'd like to offer a bit of analysis, but all I've got is bewilderment. The reason I find the revolving door between Wall St. and Washington somewhat acceptable is that I think it's important that those who govern Wall Street understand it. But Paulson, by his own admission, didn't really. Think about this: A guy whose $46 million compensation package was made possible by leaving during Goldman's mortgage-security boom "was not paying much attention" to the mortgage-security boom! I don't know if Paulson is fibbing, or if mortgage-securities were such a specialized and esoteric money machine that basically nobody understood what was going on, but either way, this seems devastating.
