Tag Archives: Henry Paulson

Gingrich:”Un-American’ Bailout, Paulson Should Have Quit”

snip …. ” Former House Speaker Newt Gingrich, R-Ga., on Sunday described Treasury Secretary Henry Paulson’s request for billions of dollars to buy debt from struggling Wall Street financial firms as “un-American” and said the secretary should have stepped down.

Gingrich even expressed concern with Paulson’s connections to Wall Street.  The treasury secretary served as the chairman of a major…

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Lobbyists Make Progress on “RESCUE” plan

“On Wednesday morning, Paulson briefed chief executives with the Business Roundtable in a conference call. “Our lobbyists have been getting that message, from leadership on both sides, that industry needs to make the case for this with legislators,” said John Mechem, spokesman for the Mortgage Bankers Association. Business groups that had stayed on the sideline began getting into the game,…

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First $25 Billion Aid Package For Automakers Clears

Its like Christmas in September in Washington DC these days, at least it is if you own a large multinational corporation.

Hundred billion here and a zillion billion there.

The automakers obviously dont rate very highly as they only found 25 billion in their stocking this morning BUT ..

There is the promise of more to come …

Wonder if…

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“They’ll Call Me If They Need Me”

Unbelievable… Barack Obama, having spurned John McCain’s offer of a temporary stand-down of campaign activities in order for them both to do the right thing, to concentrate their efforts on resolving the most pressing matter to come before congress since Obama was elected, tonight accepted an offer by President Bush to attend a meeting at the White House tommorrow. I’m…

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The libertarian solution to the economic crisis

There is no libertarian solution to the crisis.   Houses are too expensive; supply exceeds demand; the mortgages held have been sold and the resulting mortgage asset has been used as collateral and leveraged.   You can either hope for a new housing boom or else try to slow the decline with some kind of market supports or simply stand…

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