Eye-Opening Perspectives for Heroic Hearts

Eye-Opening Perspectives for Heroic Hearts

Sunday, February 23, 2014

Paulson On China


by Wi Lu Wung, CPW News Services
Confucius said "That the birds of worry and care fly above your head, this you cannot avoid, just don't let them make nests in your hair."  Were Confucius alive today he would say "Unless your are Americans and have some oil for China."
If your mother told you  that “birds of a feather, flock together” you will likely be reading much into the representation of Wall Street’s 2008 bailout expert, Hank Paulson, by the law firm of Edward Bennett Williams, Williams & Connolly.
Edward Bennett Williams’ Holy Cross College debating partner was Robert Maheu who testified before the Frank Church Committee on CIA misdeeds that he had worked with the Chicago Mob’s West Coast representative, Johnny Rosielli, to concoct a plan along with Tampa, Florida mobster, Carlos Traficante, to assassinate Fiedel  Castro.  Since the Frank Church Committee, Americans have learned that their intelligence community has long been led by those with narrowly defined interests and, as in the case of Iran-Contra or the invasion of Iraq, decision based on advancing not the nation, but the nation's power elites who often lose pallets of money, $50 billion in Iraq reconstruction funds, and who run up a war from a projected $60 billion action to a little $4 trillion skirmish.

Henry Paulson's book deal on China has been in the works since 2011 according to the Wall Street Journal's Katie Glueck ("Hank Paulson Inks Deal To Write Book on U.S.-China Ties, WSJ, June 22, 2011).

Glueck quotes Williams & Connolly's attorney, Robert Barnett, a senior partner at Williams & Connolly LLP who is representing Mr. Paulson and his book and who said that it “will be an indispensable primer for anyone wanting to do business in China or deal with the Chinese.”

Glueck further indicated that Paulson's growing interest in helping China succeed began well before the bailout which promised the purchase of toxic assets that had Americans believing it was "a deal done on the fly for the benefit of the too-big-to-fail banks," according to one local Omaha banker.  "Ninety-five percent of local banks were solvent at the time of the bailout," the banker lamented.  "I wouldn't be surprised that Paulson wasn't working on becoming the point man for the Chinese in America well before the bailout," he continued.   This was a point confirmed by Glueck who wrote:

"Mr. Paulson cultivated ties with China while at Goldman Sachs, making dozens of trips to that country.  As Treasury secretary, he pursued a strategy of economic engagement with Beijing, and co-chaired the U.S.-China Strategic Economic Dialogue, an initiative launched in 2006 that promoted high-level talks about economic policy."

George Walker Bush's Treasury Secretary, Henry Paulson, head of the Paulson Institute at the University of Chicago,  and former Secretary of the U.S. Treasury who appealed in 2008 for a toxic asset bailout of Wall Street, is now a leading advocate for the U.S. helping China to urbanize.  Writing for CNN’s Money (Henry Paulson: Why Cities Are The Key To China’s Success, February 10, 2014,http://finance.fortune.cnn.com/2014/02/10/henry-paulson-why-cities-are-the-key-to-chinas-success/) Paulson said:
The cooperation of the U.S. government and that of other nations, major corporations, and the nonprofit sector, including my own research institute, are helping bring China the tools it needs to prioritize design issues in cities and adapt better infrastructure plans now. These tools include instruction in sustainable practices for government leaders, public education in environmental issues, and specialized training for the country's urban planners.
Former Paulson underlings at Goldman Sachs who, facing the heat of America’s resentment for what many on Main Street feel was the wholesale rape of the nation, have followed Paulson’s new work as an apologist for Chinese advancements in the U.S..
“In Texas, for example, the Chinese owned oil company CNOCC, has figured a way around complaints of a breach in national security with help of former Paulson colleagues at Goldman Sachs, now at Houston-based Tudor, Pickering and Holt.  The largest Chinese government investment in the U.S. is being built in Texas to produce drilling pipe used by the Chinese to extract shale oil from fracking in the Texas Eagle/Ford shale region in South Texas,” said Farrell Hardin Jackson of the citizen's group Great Wall Watchers in San Antonio, Texas.
“Tudor, Pickering and Holt led China around the national security concerns of Americans by having the Chinese partner with companies like Chesapeake Oil to secure U.S. mineral rights,” said one Wall Street insider who following the 2008 bail out joined a Benedictine Monastery in preparation for what he said is the “coming cultural and economic meltdown and bloodletting.  Texas could  have used its oil profits from  public lands held by the University of Texas Pension Fund that was privatized by Hank Paulson's friend George W. Bush when he was Governor and used its own oil assets to subsidize Texas owned companies, but NO, it likes the Chinese ownership better.  Next year Santa Anna will be resurrected to take back the Alamo," said the new Benedictine monk pointing out that GWB's father was not only the President, Vice-President and Director of  the Central Intelligence Agency, but also Ambassador to China during the Nixon Administration.

"This little Texas two-step may have been in the works for a long, long time and we were just too stupid to see it coming.   So here it comes!  Texas: America Supersized!" he concluded.

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