Hank Paulson, who was named as one of the top 25 people who plunged the world into an "Economic Meltdown" in 2008 by Time magazine, gets a face-lift in this movie produced by his buddy, Michael Bloomberg of Bloomberg Businessweek. Not only have other documentaries shown he was the catalyst that drove the recession in 2008 onward, it was his idea to bail out the banks that proved to be the worst, possible decision ever made. Now that Paulson, Bloomberg, and Thomas Steyer are all on the same page with their global-warming mambo-jumbo, the first thing that needed to be done was repair Paulson's terrible public image by making this movie. For a more accurate view, watch Inside Job or Too Big to Fail for a more critical, truthful portrayal of this windbag. This movie is nothing more than nanny Bloomberg's shallow attempt at giving Paulson a public do-over.
It's also no secret that when he became treasury Secretary, he sold nearly $500 million in Goldman Sachs stock without paying a single penny in capital gains taxes (or any taxes for that matter). In July 2006, "Henry Paulson liquidated 3.23 million shares of Goldman, roughly 1% of the entire company, in a one-time public sale." That left Paulson with a tax-free gain of $491 million. Read that again: $491 million free and clear. Without this loophole, Paulson would have been liable for more than "$200 million worth of state and Federal capital gains taxes." Why? In 1989, the government created a "one-time loophole that gives the political candidate the ability to liquidate his or her entire portfolio without paying a dime in capital gains taxes." The loophole only applies to the President, Vice President and cabinet Secretaries. Congress does not qualify. The rich DO get richer, as did Paulson, who is now parlaying his fame (infamy?) by teaming up with nanny Bloomberg Productions and scare-tactics Steyer, the phony triptych of the modern world.
It's also no secret that when he became treasury Secretary, he sold nearly $500 million in Goldman Sachs stock without paying a single penny in capital gains taxes (or any taxes for that matter). In July 2006, "Henry Paulson liquidated 3.23 million shares of Goldman, roughly 1% of the entire company, in a one-time public sale." That left Paulson with a tax-free gain of $491 million. Read that again: $491 million free and clear. Without this loophole, Paulson would have been liable for more than "$200 million worth of state and Federal capital gains taxes." Why? In 1989, the government created a "one-time loophole that gives the political candidate the ability to liquidate his or her entire portfolio without paying a dime in capital gains taxes." The loophole only applies to the President, Vice President and cabinet Secretaries. Congress does not qualify. The rich DO get richer, as did Paulson, who is now parlaying his fame (infamy?) by teaming up with nanny Bloomberg Productions and scare-tactics Steyer, the phony triptych of the modern world.