Word: paulson
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Dates: during 2000-2009
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...proposed auto-industry bailout was discussed, however. Paulson met with General Motors chief Rick Wagoner in October, and he held conversations with Keith Hennessey, the head of Bush's National Economic Council (NEC), Commerce Secretary Carlos Gutierrez and others over the phone in the days after the election. Yet there was not sufficient disagreement between the men to warrant a full meeting...
...Congress will try to approve a bridge loan for the auto industry and a stimulus package that includes unemployment benefits, Medicaid help for the states and some assistance for small businesses. House Banking Committee chairman Barney Frank will call on Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson for a roasting on how the $700 billion bailout - passed at the height of the crisis - has been spent...
...failing mortgages. The White House strongly opposes her plan, and there have been recriminations between several of the players. More broadly, Republicans who think their electoral drubbing necessitates a return to fiscal restraint are turning against those in both parties who want to continue the aggressive, costly measures that Paulson has embraced...
...Treasury Department says nothing has been finalized, but reportedly Paulson and his advisers are looking into using TARP funds along with some money from outside investors to buy up credit card, auto loans and other, non-mortgage consumers debt. The financing mechanism for that type of debt, often called securitization, has stalled like much of the rest of the banking sector. Paulson is hoping that buying up debts directly will be a better way of stimulating lending than just purchasing banks' shares and trying to force the firms to extend loans...
...This is riskier for taxpayers," says Andrew Jakabovics, an associate director at the Center for American Progress. Worse, it's not clear the program would do anything to boost the economy. Yes, consumer spending is dropping, but some economists think that is a function of confidence, not credit. "Paulson seems to be working under the impression that when it comes to consumer spending liquidity is the issue," says Dean Baker, who co-founded the Center for Economic Policy Research. "People aren't buying because they just lost a lot of money and might be about to lose their job." Lastly...