Word: paulson
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...some money. Bush's hand was forced. In theory, the job of saving the car companies would have gone to the Commerce Department, but its chief, Carlos Gutierrez, doesn't have access to the kind of money Detroit needs, so Bush gave the job to Treasury Secretary Hank Paulson...
Danger-seeking was so popular that somehow pirates came back. Someone gave Don Imus a radio job. When investment banks crumbled, we decided to hand over $700 billion to Henry Paulson, who used to run an investment bank. It was the kind of year when a famous football player could think, Sure, I've drunk a lot and have a loaded gun in my pants, but the music in this club makes me want to put my hands in my pockets and dance...
...course, Hillary Clinton and Robert Gates are heavyweights too, and State, Defense, Justice and Treasury are all Cabinet jobs that have kept their clout. (Bush's latest Treasury Secretary, Henry Paulson, is apparently the new leader of the free world.) But the "team of rivals" analogies only go so far because Cabinets are no longer teams. And Cabinet Secretaries are increasingly chosen to send messages to interest groups and ethnic groups...
...Within days, Washington snapped into action. Secretary Paulson strode into the Capitol building with a now-infamous $700 billion rescue package, and even wounded egos and weekend flights could not dampen the urgent sense that something must be done, overtime pay be damned. At first, his plan did not pass—a common fate of laws that are divisive, unwanted, and absolutely necessary. This time, however, the crisis intervened. The bill was put to another vote and signed into law with bipartisan and hysterical relief—because there was nothing else to be done...
...billion loan package Congress approved in September that the automakers were supposed to use to retool their assembly lines to build more fuel-efficient vehicles. Democratic Congressional leaders have wanted the cash to come instead from the $700 billion financial rescue pot they gave Treasury Secretary Hank Paulson in October - which is why the auto executives found themselves in the strange position of pleading their case before the House and Senate banking committees...