It’s pretty clear from the latest Bloomberg article who Hank Paulson is really working for, and it’s not the taxpayers!

Henry Paulson may be the most powerful manager of money in the world and he still couldn’t do for taxpayers with the $700 billion bailout of American banks what Warren Buffett did for his shareholders in investing in Goldman Sachs Group Inc.

Rather than “couldn’t”, I find it more fitting to use “WOULDN’T”.  And why would he?  Let’s not forget that those beggars at Goldman Sachs are his former colleagues.  Paulson and the current Goldman boys are in this taxpayer heist together.

The Treasury secretary has made 174 purchases of banks’ preferred shares that include certificates to buy stock at a later date. He invested $10 billion in Goldman Sachs in October, twice as much as Buffett did the month before, yet gained warrants worth ONE-FOURTH as much as the billionaire. The Goldman Sachs terms were repeated in most of the other bank bailouts…

The government has received warrants valued at $13.8 billion in the 25 biggest capital injections from TARP, according to Bloomberg data. Under the terms Buffett negotiated for his $5 billion stake in Goldman Sachs, the TARP certificates would have been worth $130.8 billion.

Warren Buffet is driving hard bargains that it would be hard for any government to match exactly.  But these terms are absolutely PATHETIC, and as long as Paulson is in charge, you can expect more of the same.  Paulson is paying 1000% more than Warren Buffet is for the exact same financial warrants!

Further…

The government will forgo almost $48 billion over the next five years in preferred stock dividend payments from the 25 biggest TARP infusions, as compared with Buffett, according to the terms of the deals

Way to go Paulson!  You get my vote for the most corrupt “public servant” of the century.