Word: hanke
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...promise-much approach might turn out to be awfully smart. If one leaves aside the actual details of his not-all-that-detailed proposal, one of the most important jobs of a Treasury Secretary in troubled times like these is to instill confidence. Geithner's predecessor, Hank Paulson, was a believer in doing so by means of bold statements. That served him well for a while, but when the crazy events of the fall made Paulson repeatedly eat his words, confidence in his leadership fell quickly. It is always a mistake, Geithner's mentor (and Obama's top economic adviser...
...with China over its currency policy. Trade hawks in Congress, pushed by union allies and some manufacturing lobbies in Washington, have long pined for this. But the Bush Administration resisted, preferring to fold the currency issue into the broader biannual "strategic economic dialogue" (SED) started by former Treasury Secretary Hank Paulson. That less confrontational setting was more likely to produce results on the currency issue than any forum that smacked of the U.S. putting Beijing on trial for "manipulation," the Bushies believed. In fact, over the past two years, the RMB did rise nearly 20% against the dollar. (Read "China...
...George W. Bush has no wish to be the Herbert Hoover of the CNBC generation. Accordingly, his Administration will have spent several hundred billion dollars to unfreeze the credit markets. (Indeed, has anything of late so recalled Roosevelt's devotion to "bold, persistent experimentation" as the frantic improvisations of Hank Paulson...
...falls to Geithner to lead the way out of this mess. As Barack Obama's nominee to be Secretary of the Treasury, Geithner will be tugging on the economic levers himself - levers that are, thanks to outgoing Secretary Hank Paulson, far more powerful than they had been. Colleagues say Geithner privately acknowledges that the U.S. economy is still sinking fast and the root cause of the problem - the housing bust and ensuing credit crunch - is still very much with the nation. Critics will ask at his confirmation hearing how the incoming Administration plans to prevent things from getting even worse...
Back in September, V.V. Chari, an economist at the University of Minnesota and an adviser to the Federal Reserve Bank of Minneapolis, got a call from a Congressman. Treasury Secretary Hank Paulson and Federal Reserve Chairman Ben Bernanke were arguing that they needed $700 billion to save the nation's financial system, and the Congressman wanted to know what to make of it all. Chari said he didn't know - he hadn't looked at the data. Policymakers kept talking about how banks weren't lending to businesses or to individuals or even to each other, so Chari pulled numbers...