Responding to the Bush administration’s $700-billion Wall Street bailout plan — among the largest in the nation’s history — congressional Democrats countered Monday with a separate proposal that takes additional steps to help struggling homeowners.
The Democrats’ plan, floated by Senate Banking Committee Chairman Christopher Dodd (D-Conn.), would lend More…
The ‘clean’ bailout bill that Treasury Secretary Henry Paulson Jr. sent to Congress over the weekend, is anything but ‘clean.’ It would allow the Treasury to pay up to $700 billion for whatever “troubled assets” — in the bill’s first draft “mortgage-related assets” — from whatever banks at whatever price More…
The relief that greeted the Treasury Dept.’s $700-billion plan to bail out the financial markets is turning in an new direction this week, as people begin to study the details.
Plenty of prominent voices – Paul Krugman among them – are concluding it’s a big blank check for Wall More…
Regarding our earlier challenge to name the big government effort now underway to save the financial markets, Treasury Sec. Henry Paulson Jr. has come up with a tagline for the Wall Street bailout of all bailouts – the Troubled Assets Relief Program.
The stock market leaped giddily in late Thursday’s trading on rumors that Treasury Secretary Henry Paulson Jr. is thinking of “a government-led plan that would bail out the banks in a Resolution Trust Corp.-type scenario,” in the words of the Wall Street Journal’s “MarketBeat” blog.
Yearnings for an “RTC-type More…
After the extraordinary federal takeover of Fannie Mae and Freddie Mac on Sept. 6, Treasury Sec. Henry Paulson Jr., Washington’s capo di tutti i capi on the credit crisis, drew a line in the sand with Lehman Bros. and Merrill Lynch. That makes the sudden federal takeover More…
Now that the government has nationalized Fannie Mae and Freddie Mac, it should step in and modify the mortgage loans of troubled borrowers on a massive scale, consumer advocates say.
Housing Wire reports that advocates are pushing the two mortgage giants to follow the lead of the Federal Deposit More…
So far it looks like shareholders, employees and, of course, taxpayers are the big losers in the unprecedented Fannie Mae and Freddie Mac government bailout just announced over the weekend.
But some people are going to come out of this mess just fine, The New York Times says. More…
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