Word: paulson
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...lawyers removed. They also got the Treasury Department to establish a federally backed insurance program for the debt - an alternative solution that is easier on the taxpayers but more expensive for the already cash-strapped banks - though the Treasury would not be required to actually use the program, and Paulson has expressed opposition to such a route...
...secret is exposed. The American economy is facing a crisis unprecedented in modern times only by the Great Depression. Secretary Paulson is demanding our trust along with a $700 billion check—we should give him neither. It is illogical and rash to grant Paulson $700 billion when he was unable to prevent the crisis in the first place, or even to sense it was coming. As a guardian of the American economy in one of the highest offices in the nation, he has failed at his post. Some might argue that the economic factors leading to this crisis...
...supporters of the plan - which had been crafted by Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke - argued that as painful as it would be to commit such an unprecedented amount of taxpayer money to cleaning up Wall Street's mess, the price of not doing it would be even greater, because the crisis would spread to hurt ordinary businesses and their workers. Supporters of the plan argued that the only way to keep the financial system operating was to have the government buy the junk assets in order to take them off the balance sheets...
...what happens now? On Capitol Hill, House leaders said they'll try again soon. Treasury Secretary Henry Paulson practically begged for a revised deal in his brief appearance after the market carnage. "Our tool kit is substantial but insufficient," he said. The market's traumatized reaction today may change some minds and some votes...
...asking Congress 11 days ago for the authority to spend up to $700 billion to buy troubled assets, Paulson and Fed Chairman Ben Bernanke were hoping to share some of the responsibility and the blame - and get the freedom to boost companies that weren't already on the brink of failure. Instead, they're back to being crisis managers for the moment - and maybe for the duration of the crisis...