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Mr. Brown said Treasury Secretary Henry Paulson has acknowledged he has the power to use the $700 billion economic stabilization fund to aid the car companies. He said he was not referring to Republican members of the House of Representatives from Ohio, such as Rep. Bob Latta (R., Bowling Gre...
The major reason is that banks and other financial institutions are suffering huge losses that make them reluctant to lend. Analysts said yesterday that nothing short of hundreds of billions of dollars of purchases will bring down interest rates.
Challenged on the issue Tuesday by U.S. Rep. Steven C. LaTourette at a Capitol Hill hearing on the bailout, Paulson said he felt the right decision had been made in collaboration with Comptroller of the Currency John Dugan, National City's primary regulator. "I have great confidence in John D...
An angry populace is coming to realize that their wallets have been emptied of a big chunk of their wealth by unwise borrowers, heedless lenders, greedy manipulators, and a government philosophy of nonregulation that not only made the con job possible, but glorified it as healthy free e...