“We do not want a disclosable event.” Thus spoke former Treasury Secretary Hank Paulson to Bank of America CEO, Ken Lewis, last December.

Paulson’s remark came in response to Lewis’ request for a letter from Fed Chairman Ben Bernanke, acknowledging the government’s insistence that Bank of America acquire Merrill Lynch, despite the brokerage firm’s mounting mega-billion-dollar losses.

This one little phrase probably tells you everything you need to know about Henry Paulson, the man who put the “secret” in Secretary. And this one little phrase certainly tells you everything you need to know about the structure and actual objectives of the bailout campaigns Paulson orchestrated.

Specifically, the Paulson bailouts sought to divert hundreds of billions of taxpayer dollars toward Wall Street finance companies, and to do so as secretly as possible. In the name of “systemic risk,” the former Treasury Secretary dispensed hundreds of billions of dollars to

“Stone him to death!” No kidding. Dilapidation may be coming back into style. That’s what one of Madoff’s victims proposed in front of the courthouse.

We’re in the “anger” stage, writes John Authers in the Financial Times. No more denial…now, people want blood.

After the South Sea Bubble blew up, in the 18th century, the Walpole government was faced with similar anger. It seized the property of the company’s directors and used it to pay off the victims. Then, a resolution was proposed in Parliament by which the bankers involved in the scandal would be tied up in sacks filled with snakes and tipped into the Thames River.

So far, Congress has not proposed stoning Fannie Mae or sending AIG directors to the bottom of the Potomac. But it must be warming to the idea.

“Congress is looking for heads to cut off,” says the French press.

One member of Congress – Senator Grassley –

The markets started off the session in full throttle, but by the time the closing bell sounded they had given back their gains.  The Dow Jones Industrial Average closed at 7,216.97, down -0.10% while the Nasdaq and S&P 500 closed down -1.92% and -0.35% respectively to levels of 1,404.02 and 753.89.  The markets initial rally was formed in the banking sector after remarks from Federal Reserve Chairman Ben Bernanke on ‘60 Minutes’ last night that no large banks would go insolvent, although they may be dismantled in a controlled fashion.  Many investors took his comments as a sign that Citigroup [C: 2.45, +0.12 (+5.15%)] and Bank of America [BAC: 6.0901, -0.0899 (-1.45%)] may be in better shape than previously thought, especially after comments regarding the firms’ respective profitability last week from CEOs Vikram Pandit and Ken Lewis.

The major news today was related to the bailout

A-Power Energy Generation Systems, Ltd. (NASD: APWR), the largest provider of distributed power generation systems in China, recently announced that the company has terminated its chief financial officer, Edward Meng. According to the company’s internal review, A-Power Energy Generation Systems has confirmed assertions made by NASDAQ relating to the omission of certain biographical information of Edward Meng.

A-Power Energy Generation Systems was prompted of allegations against Mr. Meng by a NASDAQ notification stating that Mr. Meng’s former employer contacted NASDAQ to report that he had breached that company’s Code of Conduct by being employed by that company on a full-time basis while at the same time being employed by A-Power Energy Generation Systems as its part-time chief financial officer. The other name of the other company was not released by NASDAQ.

After deliberations and consultations with NASDAQ, the Board of Directors of A-Power Energy Generation Systems determined that terminating Mr. Meng’s

A-Power Energy Generation Systems, Ltd. (NASD: APWR), the largest provider of distributed power generation systems in China, recently announced that the company has terminated its chief financial officer, Edward Meng. According to the company’s internal review, A-Power Energy Generation Systems has confirmed assertions made by NASDAQ relating to the omission of certain biographical information of Edward Meng.

A-Power Energy Generation Systems was prompted of allegations against Mr. Meng by a NASDAQ notification stating that Mr. Meng’s former employer contacted NASDAQ to report that he had breached that company’s Code of Conduct by being employed by that company on a full-time basis while at the same time being employed by A-Power Energy Generation Systems as its part-time chief financial officer. The other name of the other company was not released by NASDAQ.

After deliberations and consultations with NASDAQ, the Board of Directors of A-Power Energy Generation Systems determined that terminating Mr. Meng’s