Word: paulson
(lookup in dictionary)
(lookup stats)
Dates: during 2000-2009
Sort By: most recent first
(reverse)
...what is getting to be something of a habit, Treasury Secretary Hank Paulson ruined his own and a lot of other people's weekend by choosing the morning of Sunday, Sept. 7, to announce the seizure of money-losing mortgage giants Fannie Mae and Freddie...
...Phelps can make [winning eight gold medals]," said Xuezhu Wen, a spectator from Beijing. "I'm not sure [if he can], but I wish all the best to him." After the relay performance, Phelps' American fans were more optimistic. "I think he can probably pull it off," said Ethan Paulson of San Diego. "He got one more today." Now he just needs to do it six more times...
...more mundane level, Paulson was aware that Congress had only a few weeks left in session. There was already a housing bill well along in the legislative process that provided for a new, tougher regulator for Fannie and Freddie (among many other things). So Paulson jumped into action. On Friday, July 11, he met twice with President Bush, bypassing White House economic advisers who opposed any kind of taxpayer bailout. Over the weekend, he talked to congressional leaders. And all along, he was consulting with Bernanke. On Sunday the 13th, Paulson made the dramatic announcement on the steps...
...Paulson says that unlike the situation with Bear Stearns, there was never a moment when the two firms appeared in imminent danger of failure. But he saw far more dire potential consequences than in the case of Bear. "Their securities move like water among all of the financial institutions," he says of Fannie and Freddie. If holders ranging from central banks in Asia to community banks in Iowa had lost confidence, the ensuing sell-off might have been catastrophic...
...think that we were stampeded into panic legislating," says Spencer Bachus, the ranking Republican on the House Financial Services Committee, who voted against the bill. But that's the loser's perspective. In Paulson's view, Congress was simply doing what made sense. "The more flexibility I have, the more confidence that gives to the market, the less likelihood the authorities will be used and the better for the taxpayers," he says. In other words, Trust me. Do we have much of a choice...