Henry Paulson – News Stories About Henry Paulson - Page 10

Apr 1, 2008 9:18 AM CDT

Small Banks, States Rip Paulson Plan

Critics deride plan as that of 'a bunch of guys from Wall Street'

(Newser) - Small banks, credit unions, states, and assorted politicians wasted no time ripping into the Bush administration’s plans to rework federal regulation of the financial industry, calling it an amateurish attempt by a “bunch of guys from Wall Street,” reports the Wall Street Journal. “It’s because...

Market 'Fix' Just
Feeds the Beast

OPINION

Mar 31, 2008 5:08 PM CDT

Market 'Fix' Just Feeds the Beast

Bush denies need for regulations, Krugman writes in NYT

(Newser) - The Treasury plan unveiled today will never rein in free-wheeling markets because it isn't intended to, Paul Krugman writes in the New York Times. President Bush, who for 7 years has slashed at regulations, ignores how well they harness deposit-taking banks. And he denies that "non-depository" banks like Bear...

Paulson Unveils Regulatory Reforms: No Quick Fix

Mar 31, 2008 9:53 AM CDT

Paulson Unveils Regulatory Reforms: No Quick Fix

Focus of plan including new oversight for Fed extends beyond current woes

(Newser) - The "transformative" changes Henry Paulson has in mind for the regulation of the US economy will take years to implement, the Treasury Secretary said today. The plan would greatly increase the Fed's oversight powers, regulate the insurance industry for the first time, and add federal oversight of the mortgage...

Bush Housing Secretary
Steps Down

Updated

Mar 31, 2008 9:48 AM CDT

Bush Housing Secretary Steps Down

Jackson out after clashes with Congress, charges of favoritism

(Newser) - HUD Secretary Alphonso Jackson resigned this morning, after a series of accusations of political favoritism. The departure marks a setback to the Bush administration's efforts to stem the housing crisis, the Wall Street Journal reports, as Jackson has been a central player on key initiatives. He cited family reasons in...

China Seals Off Tibetan Capital

Mar 29, 2008 2:51 PM CDT

China Seals Off Tibetan Capital

Crackdown comes after new protests, visit by foreign envoys

(Newser) - Chinese police closed off Tibet's capital today after fresh protests broke out during a tightly-orchestrated visit by diplomats. “The whole area has been shut down,” said one London-based advocacy group. Authorities swarmed Lhasa’s main temples, as monks continued demonstrating and urged Beijing to begin talks with the...

Bush Readies Mortgage Bailout

Mar 29, 2008 6:48 AM CDT

Bush Readies Mortgage Bailout

Aid plan would back new loans for homeowners in 'upside-down' mortgages

(Newser) - Homeowners facing foreclosure could soon be getting a helping hand from the Bush administration, the Washington Post reports. Details are being finalized on a plan that would see portions of loans forgiven for people who now owe the bank more money than their house is worth. The remainder would be...

Treasury Wants
Mega-Fed to
Monitor Markets

Mar 28, 2008 10:14 PM CDT

Treasury Wants Mega-Fed to Monitor Markets

Plan would merge agencies, allow Fed to swoop in on threats

(Newser) - The Treasury wants a newly empowered Federal Reserve to monitor market stability and swoop in on institutions that threaten it, the New York Times reports. If approved by lawmakers, the Treasury plan would merge a jumble of regulatory agencies and combine the SEC with the Commodity Futures Trading Commission. But...

Feds Must Ward Off Stagnation, Clinton Says

Mar 27, 2008 11:15 AM CDT

Feds Must Ward Off Stagnation, Clinton Says

Says buying mortgages might be necessary to avoid prolonged skid

(Newser) - The government should step into the mortgage mess on a broader scale, Hillary Clinton told the Wall Street Journal yesterday, suggesting monetary policy alone can’t ignite a recovery and warning that procrastination could lead to stagnation similar to Japan’s weary economy. Clinton said the Federal Housing Administration should...

Paulson Wants Closer Tabs on Investment Banks

Mar 26, 2008 2:25 PM CDT

Paulson Wants Closer Tabs on Investment Banks

More transparency needed if they're to borrow from Fed, Treasury chief says

(Newser) - Treasury Secretary Henry Paulson said today that investment banks owe the government more information about their financial condition if they are occasionally allowed to borrow money from the Federal Reserve, the New York Times reports. Paulson seemed to call for tighter regulations before calling the recent bailout of Bear Stearns...

Social Security, Medicare Woes Unchanged

Mar 25, 2008 5:15 PM CDT

Social Security, Medicare Woes Unchanged

Programs bound for insolvency, annual status report says

(Newser) - Social Security and Medicare still face financial problems down the road, but the situation became no worse last year, trustees for the programs said today. The trustees predict that Social Security will become insolvent in 2041, Medicare in 2019. True to form, Republicans sounded alarms about the issue while Democrats...

Cramer:
the Bear
Has Been
Tamed

Mar 21, 2008 11:11 AM CDT

Cramer: the Bear Has Been Tamed

Bombastic market guru says Bear deal marks end of crisis; buy JP Morgan

(Newser) - We've hit bottom, Jim Cramer proclaims. Bear Stearns' collapse may have been apocalyptic in scale, but it at least woke up a complacent Fed and Treasury secretary, the bombastic market guru writes in New York today. “We’ve been through dozens of false bottoms,” he says, but now...

Sovereign Funds
Agree on Conduct

Mar 20, 2008 5:35 PM CDT

Sovereign Funds Agree on Conduct

Treasury's Paulson works deal on keeping investment from crossing political bounds

(Newser) - Investment funds bankrolled by the governments of Abu Dhabi and Singapore agreed today with US Treasury Secretary Henry Paulson on guidelines aimed at allaying fears of political interference by the sovereign wealth funds, the Wall Street Journal reports. Decisions should be “based solely on commercial grounds," a statement...

Economy in 'Sharp Decline,' Paulson Admits

Mar 19, 2008 5:46 AM CDT

Economy in 'Sharp Decline,' Paulson Admits

He won't say recession, but treasury secretary comes close

(Newser) - Hank Paulson came closer than ever to conceding that the economy is in recession in a series of interviews yesterday, Reuters reports. Weary after a weekend in which he helped to broker Bear Stearns' fire sale to JPMorgan, the treasury secretary avoided the R-word but admitted: "There's no doubt...

Gov't Will Do 'What It Takes' for Economy: Paulson

Mar 16, 2008 4:55 PM CDT

Gov't Will Do 'What It Takes' for Economy: Paulson

Treasury secretary backs Reserve's move to uphold Bear Stearns

(Newser) - Treasury Secretary Henry Paulson vowed today to do “what it takes” to uphold a weak economy, the AP reports. “No one is debating the fact that this economy has slowed way down,” he said on the Sunday show circuit. "We feel it, we know it, the...

Feds Outline New, Tougher Credit Rules

Mar 13, 2008 6:51 AM CDT

Feds Outline New, Tougher Credit Rules

Paulson pushes stricter standards for mortgage lenders

(Newser) - A panel led by Treasury Secretary Henry Paulson is seeking a major overhaul of rules affecting mortgage lenders and a credit market decimated by risky subprime loans and loose oversight, the Wall Street Journal reports. Among panel recommendations to be released today:

Strengthen mortgage lender and broker oversight
Establish licensing

...

Paulson Wants to Toss Pennies

Feb 29, 2008 4:15 PM CST

Paulson Wants to Toss Pennies

Costs outweigh value of small change, but government has no plans to cash out

(Newser) - Henry Paulson sees little point in pennies and would stop their production if he could, the AP reports. “The penny is worth less than any other currency,” the Treasury Secretary said today in a radio interview. But a sea change in change isn't imminent: Paulson says he...

Paulson Raps Mortgage Rescue Plans

Feb 28, 2008 7:06 AM CST

Paulson Raps Mortgage Rescue Plans

Says taxpayers shouldn't finance 'bailouts' for reckless lenders and borrowers

(Newser) - Homeowners burned by the subprime mortgage meltdown shouldn't be looking to the federal government for help, Treasury Secretary Henry Paulson told the Wall Street Journal yesterday. Facing down mounting congressional pressure for stronger measures to stem an epidemic of foreclosures, Paulson dismissed proposals on the table as "bailouts" for...

Senate Stimulus 'Too Complex' for Treasury

Jan 31, 2008 3:28 PM CST

Senate Stimulus 'Too Complex' for Treasury

Paulson prefers House's 'simple' $146 billion plan

(Newser) - The $157 billion stimulus bill passed by the Senate Finance Committee is "too complex," Treasury Secretary Henry Paulson said today. "Complexity is our enemy," Paulson said of the bill, which is "in danger of looking like a Christmas tree" once it goes to the full...

Deal on Stimulus Package Puts Heat on Senate

Jan 25, 2008 1:15 PM CST

Deal on Stimulus Package Puts Heat on Senate

Bush, Congress bask in the brief glow of cooperation, but can it last?

(Newser) - The $150 billion package of tax breaks for consumers and businesses rolled out yesterday was the first show of bipartisan cooperation sans bloodletting since the Democrats won control of Congress a year ago, the Washington Post observes. It took panic over a looming recession to make it happen, and it...

Stocks Rebound After 400-Point Plummet

UPDATED

Jan 22, 2008 10:05 AM CST

Stocks Rebound After 400-Point Plummet

(Newser) - Stocks are rallying back after a terrifying open that saw the Dow fall over 460 points within minutes, the Wall Street Journal reports. Since then, buyers have returned, spurred on by the Fed’s unprecedented 0.75% emergency rate cut. The rally has so far recouped all but 145 points...