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Albany Times Union (timesunion.com) has great Henry Paulson news, photos, videos and more
Monopoly's rules about buying unwanted assets at auction are also disturbingly undefined: The banker can run the auction as he or she sees fit. I'd bet Boardwalk that Treasury Secretary Henry Paulson, who now has $700 billion to spend in a similarly vague set of auctions, is another Monop...
Paulson and Federal Reserve Chairman Ben Bernanke met with their counterparts from the world's six other richest countries late in the day as the rout of financial markets sped ahead despite earlier dramatic rescue efforts in the U.S. and abroad.
Obama, however, has spoken frequently by phone with congressional leaders and Treasury Secretary Henry Paulson since the talks began, and he and McCain traveled to the White House last week at the President's request to discuss the bailout.
The other bookend on the Bush years is this meltdown of epic proportions. We are bailing out the institutions that operated what Warren Buffett once called the financial weapons of mass destruction. Only this time, the mushroom cloud ? the threat of an economic catastrophe ? may be real.
Thus far, an objective observer would have to say that Congress has behaved well in the days since Treasury Secretary Henry Paulson delivered a three-page ransom note that said, and I paraphrase, "Give me $700 billion, or I'd hate to see anything bad happen to that nice economy of yours."
So let's not stop the short-selling of financial stocks ? the only brake on overindulgence ? as Paulson did last week. Let's not strip Congress of yet another power by giving the Treasury secretary the right to decide where to dole out a large portion of our budget.
President Bush, seeking swift action, sent Treasury Secretary Henry Paulson back to the Capitol, where lawmakers were working through the weekend.Presidential politics again played a role in the bargaining. Republican John McCain and Democrat Barack Obama called key negotiators an...