Paulson was Bush's adviser that recommended they be put into conservatorship. He tells all about it in his book "on the brink". He admits he had to come up with a clever way to sell the story of the conservatorship to the public so they could illegally take a public company into conservatorship and dump all the fraudulent loans on Fannie and Freddie. So he might be the mastermind or there could have been someone above him.