Word: paulson
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...Wednesday Treasury Secretary Henry Paulson told Congress that he believes buying mortgage bonds is no longer the best use for the remaining TARP funds. Instead, he said, Treasury is looking at injecting more money into struggling "banks and nonbanks." He said he plans to use some of the remaining bailout fund to support the market for troubled car loans and credit-card debt, as well as to reduce home foreclosures...
When Lehman Brothers calls up [Treasury Secretary Hank] Paulson, what do you expect them to say? "Gosh, I got to worry about my Maserati or my plane payments?" No. They call up and shriek about systemic risk. Come on. Investment banks have been going bankrupt for hundreds of years and the world has still somehow survived. This approach has never worked. This is what the Japanese did in the 1990s. They refused to let anyone fail. And they had zombie banks and zombie companies. The way the system is supposed to work is when we have bad times, the assets...
...does "less than required" and does it "slowly." I find this point of view pretty mistaken since on the day I received that issue of TIME, European leaders decided to put in place a rescue plan that includes lending $2.25 trillion to the European banks. The $700 billion Paulson plan seems a bit weak compared to that. And after the announcement of the rescue plan, European share prices soared. Who is emerging from the wreckage first now? Stanislas Bertrand, LYONS, FRANCE...
...prevent the company’s collapse, the Federal Reserve crated an $85 billion credit line in exchange for an equity stake in the company. Currently the company is faced with another tough decision: should it hold its executive retreat in Cabo or Bali this year? And would Hank Paulson want to go snorkeling? What would you advise? Case 2 You are advising a paper-goods company located in Scranton, Pa. Two of the employees, Angela and Andy, are engaged to be married, but the assistant (to the) regional manager, Dwight, is also in love with Angela. Additionally, the branch...
...Pacific - is whether China will continue to allow its currency to appreciate. The RMB is up almost 20% against the U.S. dollar since July of 2005, and that's part of the reason small, low-end Chinese exporters have seen their profits dwindle. A Chinese businessman asked Paulson after his speech whether the renminbi had appreciated sufficiently against the dollar. Paulson didn't answer directly, but in Beijing they know what the answer is: you bet it has. With Chinese growth slowing significantly and the economic pain spreading, "any further liberalization of the currency market is likely to be very...