paulson

The financial bailout bill failed in the House when no one — not the president, congressional leader or vote counter — had the influence to save it. What would LBJ have done?

Treasury Sec. Henry Paulson tried to push Congress into accepting the administration’s bailout plan. But the House pushed back. Hard.

Roger Ehrenberg worked on Wall Street for 17 years, and he’s been a supporter of Treasury Sec. Henry Paulson Jr. since he was named to the post. But at Information Arbitrage, Ehrenberg details how Paulson mismanaged the $700-billion bailout from a public-relations standpoint.
Paulson’s biggest mistakes? Asking for supreme powers and no judicial review. Failing to [...]

RENO, Nev. — Sen. Barack Obama is not taking the bait — for now.
Strolling off his plane with cell phone in hand, the Democratic presidential nominee looked calm as he arrived in Nevada today, walking around the tarmac in deep conversation for several minutes.

Via Angry Bear, here’s Joseph Stiglitz, the Nobel prize-winning economist, on Treasury Sec. Henry Paulson Jr. celebrating the bailout plan he presented to Congress, which was revised in marathon negotiations this weekend:
The champagne bottle corks were popping as Treasury Sec. Henry Paulson announced his trillion-dollar bailout for the banks, buying up their toxic mortgages. To [...]

As I wrote last week, the initial Paulson bailout proposal — granting Treasury Sec. Henry Paulson Jr. absolute power over $700 billion in taxpayer money, unbridled by any pesky congressional oversight or judicial review — had the effect of eviscerating the usual checks and balances that American government was designed to provide.
The new plan that’s [...]

Responding to the nation’s economic crisis, Washington policymakers are experiencing a meltdown of their own.

Treasury Sec. Henry Paulson Jr. and Fed Chairman Ben Bernanke faced the firing line at the House Financial Services Committee. The economic turmoil upends presidential politics.

Facing heavy criticism for not taking questions from his traveling press corps in 40 days, Sen. John McCain relented and held a press conference this afternoon in Freeland, Mich. It lasted for slightly more than 10 minutes, and McCain took a total of six questions — well, seven if you count the two-parter from Bloomberg’s [...]

Democrats seek to modify Treasury Sec. Paulson’s Plan for $700-Billion Bailout.