Can you smell more Paulson conflicts of interest?

Outsourcing all the asset management work of the $700 bil or whatever bailout certainly qualifies in my book.

“With anyone short of the stature and honesty of a Paul Volcker running it, you need to worry a lot about conflicts of interest,” said Alan S. Blinder, a former vice chairman of the Federal Reserve, referring to its former head. “Unfortunately, there just aren’t many people with the expertise you need but without any possible conflicts.”

And, I’d put Henry Paulson in that list of people with possible conflicts, even more so with the revelation he consulted heavily with Goldman Sachs staff during the run-up to the bailout.