Word: paulson
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...Treasury Secretary Hank Paulson likes to talk about how soured mortgage-related securities are "clogging up" our financial system. It's not always easy to see what he means. Banks' refusing to lend to one another and companies' not being able to fund themselves through issues of commercial paper are incredibly serious and escalating problems - but almost entirely intangible...
...million betting on stock market reaction to the government's proposed $700 billion Wall Street bailout. He's using the money to fund a series of full-page cartoons in the New York Times - the fourth runs Oct. 3 - that rail against the bailout and peg President Bush, Henry Paulson and Ben Bernanke as communists. Perkins, 39, talked to TIME about why he's mad and why he's still going to vote for bailout supporter Barack Obama...
...phone calls from concerned constituents to go along with the angry ones opposing any rescue package, most GOP House members do want to see something passed - only they'd prefer that it be done without their votes. Worse yet, there is precious little that President Bush, Treasury Secretary Henry Paulson or Boehner has left to threaten them with, as the three leaders are already an endangered species. "It is a tough deal; there's no safe way to do the wrong thing," says former Republican majority leader Dick Armey. "The majority of the Republicans in the House understand the gravity...
...Part of the problem is that both Boehner and Representative Roy Blunt, the No. 2 House Republican, have long ties to the Bush Administration. Their initial inclination to support Paulson was greeted by a rebellion on the right. And the fact that both leaders eventually supported the compromise bill that almost two-thirds of their members opposed was viewed as a major betrayal of the movement by many conservative activists. "The incompetence of Boehner and Blunt and their team is beyond belief," says Richard Viguerie, head of ConservativeHQ.com. "For the good of their party and the good of their country...
...many polls - his coattails get pneumonia. After trailing Democrats in generic matchups for most of the year, early last month Republicans started to catch up, coming within 3 percentage points of the Democrats in a CNN/Opinion Research poll. The latest poll, however, done Sept. 19-22 - after Paulson's emergency request but before the failed vote - shows the Democrats have widened that lead to 14 percentage points...