MarketWatch takes a hard look at Republican nominee John McCain’s surprise proposal in last night’s debate to have the government buy up bad mortgages and renegotiate them.
If that idea sounded a little familiar, MarketWatch pointed out, that’s because the $700-billion rescue package already includes authority for the Treasury More…
As congressional leaders scramble to resuscitate the $700-billion financial bailout plan that died a stunning death in the House this week, many historians and political experts ascribe the bill’s failure to a lack of political leadership in Washington.
This power vacuum was revealed in a lame-duck president who More…
Congress’s failure to pass the Bush administration’s financial plan has triggered a wave of scare commentary -– “financial Armageddon,” a leap “off the cliff” or “into the abyss,” the trigger for “the Depression of the 2010s.”
There have been good background analyses of the $700 bailout plan in both More…
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 More…
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
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 More…
Responding to the nation’s economic crisis, Washington policymakers are experiencing a meltdown of their own.
As Wall Street fluctuated erratically, congressional leaders on Friday resumed efforts to hash out a compromise plan to bailout the ailing financial system after negotiations broke down late the night before. Key lawmakers continued to More…
Different field. Same game.
In a virtual rerun of their Senate visit yesterday, Treasury Sec. Henry Paulson Jr. and Federal Reserve Chairman Ben Bernanke met a highly skeptical House committee Wednesday, as the financial sultans continue the quest in support of their $700 billion financial rescue plan.
Hoping to close More…
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 More…
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