Enemies of the American People Part 1
Paulson was Staff Assistant to the Assistant Secretary of Defense at The Pentagon from 1970 to 1972. He then worked for the administration of U.S. President Richard Nixon, serving as assistant to John Ehrlichman from 1972 to 1973, during the events of the Watergate scandal for which Ehrlichman was convicted, and sentenced to prison.
Paulson has personally built close relations with China during his career. In July 2008 it was reported by The Daily Telegraph that: "Treasury Secretary Hank Paulson has intimate relations with the Chinese elite, dating from his days at Goldman Sachs when he visited the country more than 70 times."
Each of Paulson's three immediate predecessors as CEO of Goldman Sachs — Jon Corzine, Stephen Friedman, and Robert Rubin — left the company to serve in government: Corzine as a U.S. Senator (later Governor of New Jersey), Friedman as chairman of the National Economic Council (later chairman of the President's Foreign Intelligence Advisory Board) under President George W. Bush, and Rubin as both chairman of the NEC and later Treasury Secretary under President Bill Clinton.
It has been pointed out that Paulson's plan could potentially have some conflicts of interest, since Paulson was a former CEO of Goldman Sachs, a firm that may benefit largely from the plan. Economic columnists called for more more scrutiny of his actions. Questions remain about Paulson's interest, despite the fact that he had no direct financial interest in Goldman, since he had sold his entire stake in the firm prior to becoming Treasury Secretary, pursuant to ethics law. The Goldman Sachs benefit from AIG bailout was recently estimated as USD 12.9 billion and GS was the largest recipient of the public funds from AIG. Creating the collateralized debt obligations (CDO's) forming the basis of the current crisis was an active part of Goldman Sach's business during Paulson's tenure as CEO. Opponents[who?] argued that Paulson remained a Wall Street insider who maintained close friendships with higher-ups of the bailout beneficiaries. If passed into law, the proposed bill would have given the United States Treasury Secretary unprecedented powers over the economic and financial life of the U.S. Section 8 of Paulson’s original plan stated: "Decisions by the Secretary pursuant to the authority of this Act are non-reviewable and committed to agency discretion, and may not be reviewed by any court of law or any administrative agency." Some time after the passage of this bill, the press reported that the Treasury was now proposing to use these funds ($700 billion) in ways other than what was originally intended in the bill.
Paulson has been described as an avid nature lover. He has been a member of The Nature Conservancy for decades and was the organization's board chairman and co-chair of its Asia-Pacific Council. In that capacity, Paulson worked with former President of the People's Republic of China Jiang Zemin to preserve the Tiger Leaping Gorge in Yunnan province.
Paulson is also on the Board of Directors of the Peregrine Fund; was the founding Chairman of the Advisory Board of the School of Economics and Management of Tsinghua University in Beijing; and, previously served as chairman of the influential trade group, the Financial Services Forum.
Notable among the members of Bush's cabinet, Paulson has said he is a strong believer in the effect of human activity on global warming and advocates immediate action to decrease this effect
Timothy Franz Geithner (pronounced /ˈɡaɪtnər/; born August 18, 1961) is the 75th and current United States Secretary of the Treasury, serving under President Barack Obama. He was previously the president of the Federal Reserve Bank of New York.
Geithner was born in New York City but spent most of his childhood in other countries, including present-day Zimbabwe, Zambia, India and Thailand where he completed high school at the International School Bangkok. He attended Dartmouth College, graduating with an A.B. in government and Asian studies in 1983. In the process he studied Mandarin at Peking University in 1981 and at Beijing Normal University in 1982. He earned an M.A. in international economics and East Asian studies from Johns Hopkins University's School of Advanced International Studies in 1985.
His father, Peter F. Geithner, was the director of the Asia program at the Ford Foundation in New York in the 1990s. During the early 1980s, Peter Geithner oversaw the Ford Foundation's microfinance programs in Indonesia being developed by Ann Dunham Soetoro, President Barack Obama's mother, and they met in person at least once.
In 2002 he left the Treasury to join the Council on Foreign Relations as a Senior Fellow in the International Economics department. He was director of the Policy Development and Review Department (2001–2003) at the International Monetary Fund.
In October 2003 at age 42, he was named president of the Federal Reserve Bank of New York. His salary in 2007 was $398,200. Once at the New York Fed, he became Vice Chairman of the Federal Open Market Committee component. In 2006, he also became a member of the Washington-based financial advisory body, the Group of Thirty
At the Senate confirmation hearings, it was revealed that Geithner had not paid $35,000 in self-employment taxes for several years, even though he had acknowledged his obligation to do so, and had filed a request for, and received, a payment for half the taxes owed. The failure to pay self-employment taxes, in part due to the way his employer reported his wages which was not in accordance with tax law, was noted during a 2006 audit by the Internal Revenue Service (IRS), in which Geithner was assessed additional taxes of $14,847 for the 2003 and 2004 tax years. Geithner also failed to pay the self-employment taxes for the 2001 and 2002 tax years (for which the statute of limitations had expired) until after Obama expressed his intent to nominate Geithner to be Secretary of Treasury. He also deducted the cost of his children's sleep-away camp as a dependent care expense, when only expenses for day care are eligible for the deduction. Geithner subsequently paid the IRS the additional taxes owed, and was charged $15,000 interest, but was not fined for late payment.
As President of the Federal Reserve Bank of New York, Geithner annually completed an ethics statement noting any taxes due or unpaid, along with any other obligations. Geithner's completed statement did not surface during confirmation hearings.
In a statement to the Senate panel considering his nomination, Geithner called the tax issues "careless," "avoidable" and "unintentional" errors, and he said he wanted to "apologize to the committee for putting you in the position of having to spend so much time on these issues."
Geithner has the authority to decide what to do with the second tranche of $350 billion from the $700 billion banking bailout bill passed by Congress in October 2008. He does not need Congressional approval, but went to Congress on February 10–11 to explain his plans. He proposes to create one or more "bad banks" to buy and hold toxic assets, using a mix of taxpayer and private money. He also proposes to expand a lending program that would spend as much as $1 trillion to cover the decline in the issuance of securities backed by consumer loans. He further proposes to give banks new infusions of capital with which to lend. In exchange, banks would have to cut the salaries and perks of their executives and sharply limit dividends and corporate acquisitions. The plan has been criticized by Nobel-prize winning economist Paul Krugman as well as fellow Nobel laureate and former World Bank Chief Economist Joseph Stiglitz.
Geithner is a member of the following organizations:
Rahm Israel Emanuel (pronounced /ˈrɑːm/; born November 29, 1959) is an American politician currently serving as White House Chief of Staff to President Barack Obama. He served previously as a Democratic member of the United States House of Representatives, representing Illinois's 5th congressional district from 2003 until his resignation in 2009 to take up his current position in the Obama Administration.
Emanuel is known for his "take-no-prisoners style" that has earned him the nickname "Rahmbo." Emanuel is said to have sent a dead fish in a box to a pollster who was late delivering polling results. On the night after the 1996 election, "Emanuel was so angry at the president's enemies that he stood up at a celebratory dinner with colleagues from the campaign, grabbed a steak knife and began rattling off a list of betrayers, shouting 'Dead! ... Dead! ... Dead!' and plunging the knife into the table after every name."
In his 2006 book, co-authored with Bruce Reed, The Plan: Big Ideas for America, Emanuel advocated a three-month compulsory universal service program for Americans between the ages of 18 and 25. An expanded version of this idea was later proposed by U.S. Presidential candidate Barack Obama (who was later to choose Emanuel as his White House Chief of Staff), during his 2008 campaign, in a speech on July 2, 2008 at the University of Colorado, in which Obama proposed a "civilian national security force" (this term being used in the spoken version of his speech, not in the original written version), which included expanded voluntary national service programs in many areas, such as infrastructure rebuilding, service to the elderly, and environmental cleanup. For some of these services, tax credits and direct pay, primarily for college tuition, was proposed. Obama's original proposal was for participation by all ages, but with required participation by all middle school and high school students for 50 hours of community service a year. That proposed requirement was later modified to being "a goal". Obama's entire service program proposal quickly became controversial, largely for being mistaken as a call for a national paramilitary force, though the proposal's only reference to military service was volunteer participation in regular U.S. Armed Forces, as one activity that would qualify for inclusion under the program's umbrella.
Emanuel is generally liberal on social issues. He maintained a 100 percent pro-choice voting record and is a strong supporter of gun control, rated "F" by the NRA in December 2003. He has also strongly supported the banning of numerous rifles based upon "sporting" purposes criteria. He has aligned himself with the centrist wing of the Democratic Party, the Democratic Leadership Council.
Donald Henry Rumsfeld (born July 9, 1932) is a United States businessman, retired Navy Fighter Pilot, diplomat, and politician who served as the 13th Secretary of Defense under President Gerald Ford from 1975 to 1977 and as the 21st Secretary of Defense under President George W. Bush from 2001 to 2006. He is both the youngest (43 years old) and the oldest (74 years old) person to have served as Secretary of Defense as well as the only person to have served in the position for two non-consecutive terms. Overall, he was the second longest serving defense secretary behind Robert McNamara.
While at Princeton he roomed with another future Secretary of Defense, Frank Carlucci.
Rumsfeld resigned from Congress in 1969 — his fourth term — to serve in the Nixon administration as Director of the United States Office of Economic Opportunity, Assistant to the President, and a member of the President's Cabinet (1969–1970); named Counselor to the President in December 1970, Director of the Economic Stabilization Program; and member of the President's Cabinet (1971–1972).
In 1971 Nixon was recorded saying about Rumsfeld "at least Rummy is tough enough" and "He's a ruthless little bastard. You can be sure of that."
Later in Ford's presidency, Rumsfeld became White House Chief of Staff, where he served from 1974 to 1975. In October 1975, Ford reshuffled his cabinet in the Halloween Massacre. He named Rumsfeld to become the 13th U.S. Secretary of Defense; George H. W. Bush became Director of Central Intelligence. According to Bob Woodward's 2002 book Bush at War, a rivalry developed between the two men and "Bush senior was convinced that Rumsfeld was pushing him out to the CIA to end his political career.
From 1977 to 1985 Rumsfeld served as Chief Executive Officer, President, and then Chairman of G. D. Searle & Company, (the inventor of ASPERTAME) a worldwide pharmaceutical company based in Skokie, Illinois. During his tenure at Searle, Rumsfeld led the company's financial turnaround, thereby earning awards as the Outstanding Chief Executive Officer in the Pharmaceutical Industry from the Wall Street Transcript (1980) and Financial World (1981). Searle is also known for its release of Enovid, the first commercial oral contraceptive, in 1960. In 1985, Searle was sold to Monsanto Company. Rumsfeld is believed to have earned around $12 million from this sale.
Rumsfeld defended the Bush administration's decision to detain enemy combatants without protection under the Third Geneva Convention. There was therefore a large amount of pressure from many American organizations and international bodies to enforce the Geneva Conventions. Because of this, critics (including the U.S. Senate Armed Services Committee 11-08 Executive Summary, vote 17-0) would hold Rumsfeld personally responsible for the Abu Ghraib torture and prisoner abuse scandal. Rumsfeld himself said, "These events occurred on my watch as secretary of defense. I am accountable for them." 
After the Iraq invasion in 2003, U.S. troops, the sole power in the city at the time, were intensely criticized for not protecting the treasures at the museum and other cultural institutions like the national library and the Saddam Art Center, a museum of modern Iraqi art.
When asked at the time why U.S. troops did not actively seek to stop the lawlessness, then-Defense Secretary Donald H. Rumsfeld famously said: "Stuff happens ... and it's untidy and freedom's untidy, and free people are free to make mistakes and commit crimes and do bad things. They're also free to live their lives and do wonderful things. And that's what's going to happen here."
In an unprecedented move in modern U.S. history, eight retired generals and admirals called for Rumsfeld to resign in early 2006 in what was called the "Generals Revolt," accusing him of "abysmal" military planning and lack of strategic competence. Rumsfeld rebuffed these criticisms, stating that "out of thousands and thousands of admirals and generals, if every time two or three people disagreed we changed the secretary of defense of the United States, it would be like a merry-go-round." Commentator Pat Buchanan reported at the time that "Washington Post columnist David Ignatius, who travels often to Iraq and supports the war, says that the generals' and admirals' views mirror those of 75 percent of the officers in the field, and probably more." Bush responded to the criticism by stating that Rumsfeld is "exactly what is needed," and also defended him in his controversial decider remark.
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