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Once Again, Paulson Misses the Point

By John Tamny of RealClearMarkets In testimony before Congress last week, former Treasury secretary Henry Paulson said he was “proud to have been among the many public servants” who came together “to prevent a far more damaging meltdown of our…

By Douglas A. McIntyre
Published July 21, 2009, 7:42am ET · 1 min read

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By John Tamny of RealClearMarkets

In testimony before Congress last week, former Treasury secretary Henry Paulson said he was “proud to have been among the many public servants” who came together “to prevent a far more damaging meltdown of our financial system.” It would be hard to list a lack of certitude among his weaknesses.
 
A more humble Paulson might have thanked Congress for allowing the very architects of our financial meltdown the opportunity to administer the system’s return to health. Paulson then should have apologized for having done such a poor job of fixing something that he should never have been allowed to fix to begin with.

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Douglas A. McIntyre

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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