Unethical Revolving Door Blurring of Public and Private Power Research Proposal

Pages: 3 (870 words)  ·  Bibliography Sources: 10  ·  File: .docx  ·  Level: Doctorate  ·  Topic: Economics

Paulson's Unethical Blurring Of Public And Private Power

The continuing crisis facing the United States and the global economy is generally traced to a pattern of deregulatory behavior, corporate corruption and the global dissemination of labor markets in America. The fiscal policies implemented by the U.S. Treasury demonstrate a clear connection between this federal department and the overall state of the economy. (Brewer, 2009, 1) Key amongst the figures with whom at least a semblance of part of the paradigm of failure is former Secretary of the Treasury, Henry Paulson, who was appointed to the position by President George W. Bush in 2006. Secretary to the treasury Paulson was always accountable to the American people and was more principled than his predecessor. Paulson sold all his stocks in Goldman Sachs the investment bank he had been managing. Paulson alleged that he did not have any extensive meetings with Goldman Sachs chief executive Blankfein. Paulson wanted to get an ethics waiver from the U.S. government. However, after finishing his term from the office allegations came up that he made some poor choices that led to the loss of billions of taxpayer's money (Clemmens, 2009),

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This would be immediately subsequent to his departure from the most powerful financial firm in the U.S., Goldman Sachs. As CEO, Paulson is reported to have worked closely with the Bush Administration and the Securities and Exchange Commission in order to deregulate federal oversight of bank lending procedures. While we are not asserting that Paulson and Goldman were the only players in this Greek tragedy, we can view them as core examples of the "chorus" -- integral and commenting, and fit with example of the everyman and ways that markets may be manipulated -- whether for greedy purposes or not.

As the dissertation here proposed will demonstrate, Paulson as a trusted governmental figurehead acted unethically by blurring the line between private enterprise and government policy, applying his influence in both spheres to perpetrate a massive transfer of wealth to the benefit of Goldman Sachs and to the detriment of the global economy.

TOPIC: Research Proposal on Unethical Revolving Door Blurring of Public and Private Power Assignment

Zalta, et.al. (2009) underscore that the policy ideology espoused by Paulson, Chairman of the Federal Reserve Ben Bernanke, and the Bush Administration would be constructed on the premise that global trade liberalization is the path to shared economic vitality. Thus, the policies of private deregulation that the administration pursued at the active behest of such figures as the pre-appointed Paulson were obscured by claims as to the intended effects of globalization. The balance suggested denotes that "on the one hand, the diminishing marginal utility of material resources exerts pressure in… [END OF PREVIEW] . . . READ MORE

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"Unethical Revolving Door Blurring of Public and Private Power."  19 May 2010.  Web.  16 October 2021. <https://www.essaytown.com/subjects/paper/unethical-revolving-door-blurring-public/9340>.

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"Unethical Revolving Door Blurring of Public and Private Power."  Essaytown.com.  May 19, 2010.  Accessed October 16, 2021.