Word: hanks
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...Hank Paulson...
...agree on a coordinated plan after two weeks of nasty bickering. Built into the European bailout is a subtle but unmistakable anti-American touch. For the Europeans are taking a very different tack from the U.S. in mounting their bailout, and quite deliberately so: they think U.S. Treasury Secretary Hank Paulson badly messed up his bailout...
...also be political reasons for this unexpected turn. When the crisis intensified in mid-September, Washington acted quickly. There was a Treasury Secretary to devise and present a rescue plan, and a Congress - after an initial case of the vapors - to act on it. But there is no Hank Paulson in Europe, nor a precise counterpart to Federal Reserve Chairman Ben Bernanke. Jean-Claude Trichet heads the European Central Bank, but it cannot play the lender of last resort, as the Fed did on Sept. 16 by loaning $85 billion to prop up the U.S. insurance giant AIG. In Europe...
...Department program to rescue the American economy by pricing, buying and, hopefully, reselling some of the most complex financial instruments ever devised--all so that the credit markets can function again. Kashkari's job is pivotal; how long Kashkari will hold on to it isn't clear. Treasury Secretary Hank Paulson intends to work with whoever is elected Nov. 4 to name a permanent head of the rescue program, get that person confirmed by Congress and install him or her on the job as soon as possible...
...That was one reason so many Americans regarded Hank Paulson's bailout plan with skepticism. And it's why Britain's Prime Minister Gordon Brown and his Chancellor, Alistair Darling, did not want to dwell Wednesday morning on how Britain's banking sector had got into such a parlous state that the government was compelled to spend up to $88 billion in taxpayers' money to secure it. Their emergency rescue plan was hatched over weeks but finalized in such a hurry that bleary officials labored overnight to finish it before the skittish markets opened. At a morning press conference, both...