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THURSDAY, NOVEMBER 26, 2009
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NEWS ABOUT: Henry Paulson

Henry Paulson stories: 227 news summaries

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ANALYSIS

 Bailout Flip-Flop 
 Diminishes Paulson 


Nov 13, 08 7:54 PM CST
(Newser) - Henry Paulson’s recent about-face on his plans for the $700 billion bailout do not bode well for his legacy, write Bloomberg's Rebecca Christie and Matthew Benjamin. Perhaps most damaging is not the change of mind, but what it says about his initial plans. “This is a flip-flop,”... More »

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Bush administration • Wall Street • Henry Paulson • Treasury Department • credit crisis • bailout • flip-flop

Bailout Oversight:
'It's a Mess'

$700B plan operates without watchdog as lawmakers spat

Nov 13, 08 8:34 AM CST
(Newser) - More than one-third of the $700 billion bailout package has been committed, but the program is operating without any government oversight, reports the Washington Post. The provisions intended to monitor the disbursement for corruption and waste are being overlooked, and no one has been nominated to the newly created... More »

MORE ABOUT:
Henry Paulson • Charles Grassley • Barney Frank • bailout • Troubled Asset Relief Program • financial crisis

 Feds Block Online Gambling 

New rule stops banks, credit card companies from processing bets

Nov 13, 08 2:08 AM CST
(Newser) - The Treasury Department and Federal Reserve will effectively outlaw most forms of online gambling with new rules that bar banks and credit card companies from processing transactions related to internet betting. The banking and gaming industry and House Financial Services Chairman Barney Frank oppose the new rules, reports the Wall ... More »

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Federal Reserve • Henry Paulson • fantasy sports • credit card • Treasury Department • Barney Frank • Internet gambling • electronic transfers • interstate lotteries

 Treasury Shifts Focus to Consumer Credit

Will alleviate consumer credit instead

Nov 12, 08 11:26 AM CST
(Newser) - The Treasury will spend its remaining bailout funds on consumer credit rescue programs, Henry Paulson announced today, scrapping his original plan of buying illiquid mortgage-related assets from financial institutions. The freeze on consumer credit, he said, is “creating a heavy burden on the American people and reducing the number... More »

MORE ABOUT:
Henry Paulson • credit market • bailout • consumer credit • Troubled Asset Relief Program

Treasury May Require Matching Funds for Bailouts

Setting matching funds as a prerequisite for rescue cash puts investors back in the picture

Nov 12, 08 8:39 AM CST
(Newser) - Companies that take part in the second phase of the Treasury Department’s bailout plan could be required to raise private capital to match federal funds, reports the Wall Street Journal. The first phase of the Troubled Asset Relief Program, which has been buying up stakes in banks, has no... More »

MORE ABOUT:
World Bank • Henry Paulson • Troubled Asset Relief Program • financial crisis • Wall Street bailout

Feds Under Pressure to Broaden Bailout

Treasury already needs to ask Congress for
next $350B installment

Nov 11, 08 9:45 AM CST
(Newser) - With nearly half of the $700 billion bailout committed, a growing array of distressed companies is lobbying the government, the Wall Street Journal reports, increasing the likelihood the Treasury will ask Congress for the rest of the bailout cash soon. But varied interests among legislators and emerging unemployment risks could... More »

MORE ABOUT:
General Motors • Henry Paulson • AIG • Treasury Department • bailout • financial crisis • financial meltdown

 Paulson Slipped Banks
Quiet $140B Tax Break

Reversal of 20-year-old tax law allows banks to shelter profits

Nov 10, 08 7:03 AM CST
(Newser) - While Congress and the nation were busy debating the $700 billion bailout package in late September, Treasury issued a five-sentence notice that could reap banks up to $140 billion in tax breaks, the Washington Post reports. The provision reverses an obscure policy written into law more than 20 years ago... More »

MORE ABOUT:
taxes • Henry Paulson • Internal Revenue Service • banking industry • financial crisis

Dems Push Paulson to
Fund Big 3 Automakers

Pelosi, Reid want $700B bailout to aid GM, Ford, and Chrysler

Nov 8, 08 4:56 PM CST
(Newser) - Congressional Democrats are urging Henry Paulson to pump funds into the sputtering Big Three automakers, Politico reports. In a letter to the treasury secretary, Nancy Pelosi and Harry Reid called for a broadening of the $700 billion bailout package to help GM, Ford, and Chrysler qualify for federal aid. A... More »

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Nancy Pelosi • Congress • Chrysler • Harry Reid • General Motors • Henry Paulson • Ford • Treasury Department • auto industry • bailout • auto bailout

Feds Aim to Push Bailout Beyond Traditional Banks

Finance-related firms working with Treasury, which also has eye on Obama transition

Nov 7, 08 11:19 AM CST
(Newser) - After taking ownership stakes in banks totaling $250 billion, the Treasury is preparing to broaden rescue efforts to include companies outside the banking sector, the Washington Post reports. Hundreds of billions of the $700 billion bailout package could go to relieve some institutions that, though not chartered as banks, borrow... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit market • bailout • GMAC • credit market chaos • financial crisis • President Obama

 US May Buy 
 Equity in 
 More Firms 

After seeing some thawing in key credit markets, Treasury may expand program

Nov 4, 08 8:21 AM CST
(Newser) - Treasury is considering using some of the $700 billion at its disposal to buy stakes in a range of financial companies beyond banks, the Wall Street Journal reports. The idea comes after seeing measured success in thawing credit markets by taking equity stakes in several banks. Treasury may also abandon... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit crisis • mortgage backed securities • Election 2008 • bailout • financial crisis • financial meltdown

 Even Healthy Banks 
 Eye Bailout Bucks 

Institutions fear market will judge them harshly for not tapping into $700B pot

Nov 3, 08 9:58 AM CST
(Newser) - Investor and public pressure could prompt up to 1800 more financial institutions, both publicly and privately held, to apply for a share of the $700 billion bailout fund, the Wall Street Journal reports. The cash-grab likely stems from fear that failing to do so would make an institution look like... More »

MORE ABOUT:
Henry Paulson • Treasury Department • banking industry • financial crisis • Wall Street bailout

ANALYSIS

The Economic 
Crisis Taints Us 
All: Galbraith 

Economist calls the meltdown a 'blot' on
the profession

Nov 2, 08 3:19 PM CST
(Newser) - The economic bust has taken a hammer to the profession of economics, Reagan's monetary policy, and the careers of President Bush, Alan Greenspan, and Henry Paulson, James Galbraith tells the New York Times. In an interview with Deborah Solomon, the economist chides his colleagues for failing to call the meltdown,... More »

MORE ABOUT:
Dick Cheney • economics • Henry Paulson • Alan Greenspan • Ronald Reagan • economist • regulation • George W. Bush • James K Galbraith

OPINION

 How Hank Paulson Blew $125B 

The banks have the cash, but why is everyone surprised they're not lending?

Oct 31, 08 9:15 AM CDT
(Newser) - Not too long ago, critics from left and right were clamoring for Hank Paulson to abandon his plan buy up toxic mortgage-backed securities at auction to unlock credit markets. Instead, they argued, the government should give money directly to banks for them to lend. Too bad Paulson listened, writes Steven... More »

MORE ABOUT:
Henry Paulson • Treasury Department • mortgage backed securities • subprime crisis • financial crisis • Steven Pearlstein

6 Governors
Push Feds for Quicker Auto Industry Relief

Tight credit hurts car sales: Granholm

Oct 30, 08 2:29 PM CDT
(Newser) - Michigan’s Jennifer Granholm and five other US governors urged federal officials today to act quickly in delivering financial aid to the auto industry, the Detroit Free Press reports. In a letter, the governors of Delaware, Kentucky, New York, Ohio and South Dakota stress that the credit crisis has hurt... More »

MORE ABOUT:
Congress • General Motors • Henry Paulson • Michigan • Treasury Department • Jennifer Granholm • auto industry • loan

Bailout Hits Hiring Hurdles Over Fees, Vetting

Low fees for managers and lack of Treasury manpower put brakes on bailout

Oct 28, 08 8:34 AM CDT
(Newser) - Though the $700 billion bailout deal won approval Oct. 3, the Treasury has yet to begin purchasing bad loans that are poisoning the credit pool, due to delays in hiring financial firms to oversee the program, the Wall Street Journal reports. Concern over the fees that will be paid to... More »

MORE ABOUT:
Henry Paulson • asset management • Treasury Department • bailout • financial crisis • Wall Street bailout

OPINION

You Got Your Bailout, Where Are Our Loans?

Treasury trying to consolidate banking industry, not fix credit

Oct 25, 08 12:54 PM CDT
(Newser) - When the Treasury was pushing its $700 billion bailout, it assured us that once banks had cash, they’d start lending. “I don’t know about you,” writes Joe Nocera in the New York Times, “but I’m starting to feel as if we’ve been... More »

MORE ABOUT:
Henry Paulson • Treasury Department • credit market • bailout • JPMorgan Chase • financial crisis

 Paulson: 
 I'd Do It 
 All Again 



Treasury secretary defends his actions in Times sit-down

Oct 23, 08 7:47 AM CDT
(Newser) - Does Henry Paulson have any regrets about his widely-panned handling of the financial crisis? “I could have seen the subprime problem coming earlier,” he allows, before quickly adding, “I’m not saying I would have done anything differently.” Critics see things differently, of course, so Paulson... More »

MORE ABOUT:
Henry Paulson • Lehman Brothers • bailout • financial crisis

Feds Warming to $40B Homeowner Bailout

Plan would give banks an incentive to rework troubled mortgages

Oct 23, 08 6:33 AM CDT
(Newser) - Homeowners struggling to pay their mortgages would get help from the federal government under a $40 billion plan FDIC Chair Sheila Bair is expected to unveil today, reports the Wall Street Journal. Bair’s initiative, which would offer banks financial incentives to rework troubled mortgages into more affordable ones, is... More »

MORE ABOUT:
Henry Paulson • foreclosure • FDIC • bailout • financial crisis • Sheila Bair

OPINION

Just Like Mattress-Stuffers, Banks Hoard Bailout Cash

Recovery a long way off

Oct 21, 08 10:00 AM CDT
(Newser) - Wall Street may be cheering for the bailout, but Andrew Ross Sorkin knows what the banks are really doing with our $250 billion: “They have stuffed it under their mattresses like the rest of us,” he writes in the New York Times. Consumers will find it almost... More »

MORE ABOUT:
Henry Paulson • bank • credit market • banking • bailout • financial crisis

Treasury Hopes Bailout Will Spur Bank Mergers

Paulson seeks to reshape banking with new capital

Oct 21, 08 9:23 AM CDT
(Newser) - Treasury's $250 billion cash infusion into financial institutions is meant to increase liquidity and get banks to start lending to each other again, but it might have another effect: accelerating mergers. The New York Times reports that the government's unprecedented recapitalization is also meant to give bigger banks the... More »

MORE ABOUT:
Henry Paulson • mergers and acquisitions • merger • Treasury Department • banks • recapitalization

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