Word: paulson
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Dates: during 2000-2009
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...FDIC's concern about the fragility of the system extends to other agencies. On Sept. 23, while lobbying Congress for $700 billion to lift bad loans out of the financial system in hopes of restarting lending between banks, Treasury Secretary Henry Paulson downplayed another, more extreme approach to shoring things up. "Some said we should just stick capital in the banks, take preferred stock in the banks," Paulson said. "That's what you do when you have failure. This is about success...
...Well, last Friday Paulson embraced sprinkling banks with billions of dollars, announcing at a press conference that he intended to pursue this plan "to promote financial market stability." Which leads to an obvious question: Are banks failing...
...under, like Citibank and Bank of America, could fail but will stay alive in one form or another - through a bailout or government-backed sale, for example. But plenty of medium and smaller banks are going to disappear or be divvied up by creditors. And the longer Paulson's new capital-infusion plan takes to get up and running, the higher the likelihood of failure will...
...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...
...they also believe that the $700 billion bailout plan was badly misdirected because it didn't set out to recapitalize the banks in a swift and clear fashion, but rather aimed to buy up the portfolios of toxic assets, which would be far more complicated and time-consuming. Paulson himself is now changing tack and looking to inject money directly into U.S. banks, too, which of course makes the Europeans feel even better about their plan...