...and that's one to grow on.

My dad writes great emails. They are not always about the economy or politics. He writes about the past, the weather, the garden, food... you get the idea. No topic is off limits. He also always adds a picture or two to the email. Sometimes the picture is totally random, and sometimes it is fitting to the subject as it is with this email. In this particular email, he chose to discuss the banking crisis, and I'm happy he did, because I learned more from this simply written short email, than I had trying to wade through articles online.

Thought I would preserve it here for prosperity.

Henry Paulson, our US Treasury Department Chairman is the former CEO of Goldman Sachs. That's Goldman Sucks. He knew about the financial calamity awaiting the bundling and leveraging of the toxic MBS (mortgaged backed securities) along with the other finance gurus a long time ago and definitely way before two weeks ago when all of a sudden it became an emergency to bail out our Banking and Finance System.

It was so obvious that Goldman Sachs sold their toxic MBS to their clients and at the same time they "shorted" it thru their hedge funds. Shorting is a trading technique which is the same as betting on the loser. How would you like to be a Goldman Sachs client when the company that sold you the securitized assets bet on it's loss? These Goldman Sachs are a bunch of crooks. No wonder a lot of folks are pissed off as h**l.

The looming problem was so obvious that even an honest senator running for president of the USA, who claimed that he didn't know much about economics, knew more than enough to warn congress about the problem which the democratic controlled congress pushed aside and ignored very handily.

Yes, Henry Paulson knew about it.... but it wasn't until his alma mater, Goldman Sucks,.... got threatened with extinction thru massive short selling just like the preceding Countrywide Finance, Bear Stearns, Merrill Lynch, IndyMac, AIG, Freddie Mac, Fannie Mae, Lehman Brothers got demolished.....that all of a sudden it was necessary to bail out the US Banking and Finance System....not to mention his alma mater GS. Holy Cow! They had it all figured out.

Yes he knew about it and now he's asking $700 billion taxpayer bucks to bail out his wall street cronies and he wants it right now or.....there'll be a run on the banks. Is he kidding? My money is insured by the FDIC. I know well enough not to have more than $100K in my account. My trading account is guaranteed too. Pension? That's all in US long bonds.

Darn it! Where did he pick up that $700 B figure from anyway? Leave it to a former GS CEO to leverage the figure to the maximum allowable to get the maximum profit from the transaction. The a**hole won't be around for long and he's looking to get himself a massive golden parachute too.

His math is defective. If someone asks for an accurate accounting of the number of houses threatened with foreclosure thru a 90 day non payment of mortgage multiplied by the average selling prices of the houses in each region compared to the foreclosed prices minus mortgage insurance, one gets a more meaningful figure instead of something that this guy just grabbed out of his a**.

The figure he has given is way too high. If congress approves it then we know that congress have found a way to grant themselves an early Christmas present. Life sure is fun.

And all due to this