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July 24, 2008 1:25:43 PM CDT

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Stories related to: Henry Paulson

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  • July 2008

    • In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      newser  |  Wall Street Journal  |  Jul 23, 08 11:54 AM CDT

      In Switch, Bush Will Sign Bill Overhauling Fannie, Freddie

      President Bush will support a housing package being considered in the Senate, the Wall Street Journal reports. Bush threatened to veto the bill, which includes as much as $300 billion of insurance for Fannie Mae and Freddie Mac, but decided, given market turmoil, that now “is not the time for a prolonged veto fight” press secretary Dana Perino said today. More »

      Tags

      George W. Bush  • Bush administration  • housing market  • Henry Paulson  • Fannie Mae  • Freddie Mac  • housing legislation

    • Tab for Fannie, Freddie Bailout Pegged at $25B

      newser  |  MarketWatch  |  Jul 22, 08 12:39 PM CDT

      Tab for Fannie, Freddie Bailout Pegged at $25B

      A federal bailout of Fannie Mae and Freddie Mac will cost $25 billion, the Congressional Budget Office said today, but there’s a better than 50% chance no rescue will be needed. The plan sought by Treasury Secretary Henry Paulson would extend an unlimited line of credit to the government-sponsored enterprises for the next 18 months, MarketWatch reports. More »

    • Economic Recovery to Take Months: Paulson

      newser  |  Reuters  |  Jul 20, 08 5:42 PM CDT

      Economic Recovery to Take Months: Paulson

      Henry Paulson sought to reassure Americans today that US banking is "sound" despite a growing list of troubled banks, Reuters reports. He also said the economy will stay slow for months, but expressed confidence that Congress will shore up Fannie Mae and Freddie Mac before summer recess. "Congress understands how important these institutions are," he said on Face the Nation . More »

      Tags

      mortgage crisis  • Henry Paulson  • Fannie Mae  • Freddie Mac  • banking  • IndyMac  • mortgage debt

    • 'No Immediate Plans' to Prop Up Freddie/Fannie: Paulson

      newser  |  Bloomberg  |  Jul 15, 08 1:08 PM CDT

      'No Immediate Plans' to Prop Up Freddie/Fannie: Paulson

      The US government won't be lending capital to Fannie Mae and Freddie Mac in the near future, Treasury Secretary Henry Paulson told a Senate committee today. "There are no immediate plans to access either the proposed liquidity or the proposed capital backstop,'' Paulson said, and any lending to the mortgage giants would be done "under terms and conditions that protect the US taxpayer," Bloomberg reports. More »

      Tags

      George W. Bush  • Federal Reserve  • Ben Bernanke  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Senate Banking Committee

    • Paulson's Imprimateur on Freddie/Fannie Rescue

      newser  |  Wall Street Journal  |  Jul 15, 08 9:16 AM CDT

      Paulson's Imprimateur on Freddie/Fannie Rescue

      Henry Paulson had a very busy weekend. The treasury secretary had been formulating contingency plans for bailing out beleaguered Fannie Mae and Freddie Mac for weeks, but Friday’s crisis came before those plans were in place, the Wall Street Journal reports in a reconstruction of events leading to the rescue, culminating in the frenzied weekend scramble to negotiate the particulars with the Fed and Congress. More »

      Tags

      Federal Reserve  • Ben Bernanke  • economy  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • bailout

    • Fannie, Freddie Edge Back From the Brink

      newser  |  Wall Street Journal  |  Jul 12, 08 7:11 AM CDT

      Fannie, Freddie Edge Back From the Brink

      Fears of a collapse of Fannie Mae or Freddie Mac finally eased yesterday after a stomach-churning rollercoaster ride that saw a 50% nosedive for the mortgage giants in early trading, writes the Wall Street Journal . A week of panic, prompted in part by reports that the government was preparing rescue scenarios, seem to have abated, as Fannie and Freddie were able to continue their regular borrowing. But a bigger test looms Monday when Freddie is due to sell $3 billion of short-term debt. More »

      Tags

      Wall Street  • Henry Paulson  • mortgage  • Fannie Mae  • Freddie Mac  • credit market  • markets  • bailout

    • Mortgage Worries Stalk Stocks

      newser  |  Wall Street Journal  |  Jul 11, 08 3:49 PM CDT

      Mortgage Worries Stalk Stocks

      The markets saw losses today, battered by continued worries over the solvency of mortgage guarantors Fannie Mae and Freddie Mac and a fresh spike in crude prices, MarketWatch reports. The Dow fell 128.48, to 11,100.54. The Nasdaq shed 18.77, closing at 2,239.08, while the S&P 500 lost 13.90 to close at 1,239.49. More »

      Tags

      S&P 500  • oil price  • Nasdaq  • Dow Jones Industrial Average  • Henry Paulson  • Fannie Mae  • Freddie Mac

    • Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      newser  |  Associated Press  |  Jul 11, 08 9:56 AM CDT

      Stocks Decline as Fannie, Freddie Fall, Oil Leaps

      Stocks tumbled this morning as investors focused on troubles at mortgage companies Fannie Mae and Freddie Mac and watched oil prices climb further into record territory. The Dow fell more than 170 points and neared the 11,000 mark for the first time in two years. Investors seemed unimpressed by a statement from Treasury Secretary Henry Paulson, who said the government's focus is ensuring that Fannie and Freddie remain as presently constituted to carry out their mission. More »

      Tags

      stocks  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Dow

    • Lender Woes Keep Lid on Gains

      newser  |  MarketWatch  |  Jul 10, 08 3:39 PM CDT

      Lender Woes Keep Lid on Gains

      The markets ended with modest gains today, led by a rally in financials despite continued anxiety over the future of Freddie Mac and Fannie Mae, MarketWatch reports. Treasury chief Henry Paulson and Ben Bernanke's call for greater regulatory powers encouraged investors. The Dow gained 81.58 points to 11,229.02, the Nasdaq rose 22.96 to 2,257.85, and the S&P 500 gained 8.70 to 1,253.39. More »

      Tags

      S&P 500  • Nasdaq  • Dow Jones Industrial Average  • Henry Paulson  • Fannie Mae  • Freddie Mac  • Bank of America  • financial stocks

    • Russian Prez: Stuff Your Advice, America

      newser  |  New York Times  |  Jul 3, 08 2:24 AM CDT

      Russian Prez: Stuff Your Advice, America

      Russia's new president isn't any keener on foreign criticism than his predecessor, the New York Times reports. Dmitry Medvedev told reporters this week that the US, which needs to overcome an economic "depression," should not be criticizing his country's record on democracy and human rights. Medvedev said it was time for an overhaul of the world's economic system—and that it was time American influence be reduced. More »

      Tags

      Russia  • Henry Paulson  • Dmitry Medvedev  • Group of Eight

  • June 2008

    • Paulson Seeks Expanded Fed Powers

      newser  |  Washington Post  |  Jun 19, 08 6:39 AM CDT

      Paulson Seeks Expanded Fed Powers

      Treasury Secretary Henry Paulson today will urge Congress to broaden the Federal Reserve’s oversight role on Wall Street, giving it the authority to demand data from financial institutions to help prevent incidents like the Bear Stearns collapse. Any major change in regulatory authority would have to be approved by Congress, reports the Washington Post . More »

      Tags

      Federal Reserve  • Ben Bernanke  • Bear Stearns  • Henry Paulson  • oversight  • Federal Reserve Bank of New York

    • Chinese, Enjoying New Clout, Chide US on Fiscal Policy

      newser  |  New York Times  |  Jun 17, 08 8:16 AM CDT

      Chinese, Enjoying New Clout, Chide US on Fiscal Policy

      As the US economy struggles and its own booms, China is reveling in its newfound self-confidence, blasting American fiscal policy, the New York Times reports, and flaunting its own regulatory successes. Chinese officials have recently taken the US to task over the subprime mortgage crisis, the weakening dollar, and “discriminatory” attitudes toward foreign investment, showing unusual bravado in the run-up to today’s economic talks between the countries. More »

      Tags

      China  • US economy  • Henry Paulson  • Chinese economy

  • May 2008
  • April 2008

    • First Tax Rebates Go Out Monday

      newser  |  Reuters  |  Apr 24, 08 2:51 PM CDT

      First Tax Rebates Go Out Monday

      Treasury is putting its rebate money where its mouth is—ahead of schedule, Reuters reports, with the first wave of checks going out Monday. “We're a little bit ahead of schedule, so we will start right on Monday with direct deposits," Henry Paulson tells Reuters. The Treasury secretary is happy to get cash into Americans’ pockets a little quicker, in order to stave off worsening economic conditions. More »

      Tags

      gas prices  • housing crisis  • Henry Paulson  • economic stimulus  • stimulus package  • tax rebate  • Department of the Treasury

    • Skyrocketing Yuan Hits Benchmark

      newser  |  New York Times  |  Apr 10, 08 2:34 PM CDT

      Skyrocketing Yuan Hits Benchmark

      For the first time since China unpegged its currency from America’s in 2005, a dollar bought less than 7 yuan at closing today in Beijing, the New York Times reports. Western countries protested for years the yuan was undervalued; its meteoric rise means Chinese goods are getting more expensive in the US—raising inflation fears. More »

      Tags

      Henry Paulson  • US dollar  • weak dollar  • global economy  • yuan  • Chinese economy  • US imports

    • Frank is Dems' Unlikely Lead Economy Dog

      newser  |  Politico  |  Apr 10, 08 11:37 AM CDT

      Frank is Dems' Unlikely Lead Economy Dog

      Democratic Rep. Barney Frank has become an unlikely power player in Washington’s “new economic trio” with Ben Bernanke and Henry Paulson, writes David Rogers in Politico. His pet plan—a “humongous housing deal” to steady an ailing market—might be a tough sell to the White House, but it’s “moving in our direction,” says the head of the House Financial Services Committee. More »

      Tags

      Congress  • Ben Bernanke  • housing crisis  • economy  • Henry Paulson  • Barney Frank  • House Financial Services Committee

    • 'Tinker Bell Market' Fallout Wallops Taxpayers

      newser  |  Washington Post  |  Apr 1, 08 12:00 PM CDT

      'Tinker Bell Market' Fallout Wallops Taxpayers

      Although he doesn't foresee long-term catastrophe, Allan Sloan of Fortune sounds an alarm in today's Washington Post, saying he's "more nervous about the world financial system now than I've ever been in my 40 years of covering business and markets." He dissects "the collapse of a Tinker Bell financial market, one that depended heavily on borrowed money that has now vanished like pixie dust." More »

      Tags

      housing crisis  • subprime crisis  • Bear Stearns  • mortgage crisis  • Henry Paulson

    • Small Banks, States Rip Paulson Plan

      newser  |  Wall Street Journal  |  Apr 1, 08 9:18 AM CDT

      Small Banks, States Rip Paulson Plan

      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 none of those guys ever worked in a regulated, chartered bank," said one lobbyist for small banks. More »

      Tags

      Bush administration  • Henry Paulson  • Christopher Dodd  • Treasury Department  • bank regulation

  • March 2008

    • Market 'Fix' Just Feeds the Beast

      newser  |  New York Times  |  Mar 31, 08 5:08 PM CDT

      Market 'Fix' Just Feeds the Beast

      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 Stearns need them too. More »

      Tags

      George W. Bush  • Federal Reserve  • Bear Stearns  • Henry Paulson  • regulation

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