The Lies of Henry Paulson
Lawmakers agreed to the Treasury’s request that the measure apply only to executives at companies whose assets were bought by the government through auctions. In the executive-compensation tax section, a new sentence saying that eventually was inserted.
Meanwhile, Paulson repeatedly told lawmakers that he did not plan to use bailout funds to inject capital directly into financial institutions. Privately, however, his staff was developing plans to do just that, Paulson acknowledged in an interview.
Yes, this is a little tidbit that basically states that Henry Paulson’s testimony before Congress on the necessity of the TARP program was full of lies and misdirections. Quick question: does anybody know if he was under oath when he was requesting this appropriation? If so, how about a perjury charge or two here?
Executive branch officials shouldn’t be able to get away with lying to Congress about how they intend to use requested appropriation money. It’s one thing if circumstances change and adaptation is required. It’s quite another to ask for money for one program when you’re planning to use it for a different purpose the whole time.
h/t Steve Benen