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Secret Deals Involving No One; AIG Coverup Conspiracy Unravels
Original at Mish's Global Economic Trend Analysis
• Thu, Jan 28
By Michael Shedlock(noreply@blogger.com) We’re talking about the Federal Reserve Bank of New York, whose role as the most influential part of the federal-reserve system -- apart from the matter of AIG’s bailout -- deserves further congressional scrutiny. April 24, 2009: Let the Criminal Indictments Begin: Paulson, Bernanke,...
Thoughts on Geithner, AIG, the Fed, and Tax Cuts -- By: Larry Kudlow
Original at National Review Online
• Thu, Jan 28
By webmaster@nationalreview.com (Larry Kudlow) The question now becomes how to unwind the AIG bailout. The big banks have de-TARPed. The issue of AIG secrecy, however, still remains. But that’s not Geithner’s issue. He wasn’t part of the secrecy; he was part of the solution. (Incidentally, former Treasury man Henry Paulson will join me on T...
Financial Terrorism? You Decide
Original at The Market Ticker
• Sun, Jan 24
By nospam@example.com (Karl Denninger) Yet in the middle of this "liquidity crisis", while Ben Bernanke and Hank Paulson were corralling House and Senate leaders in the Capitol and demanded $700 billion in bailouts for Hank's unlimited and purely discretionary use, The Fed inexplicably drained $125 billion from the ba...
Obama and Paulson Saved the Financial System? Oh Please... - Seeking Alpha
Original at seekingalpha.com
• Thu, Dec 24
Obama and Paulson Saved the Financial System? Oh Please... Seeking Alpha (blog) II of the Constitution, but it is nevertheless a theme that Mr. Obama has picked up from President Bush's treasury secretary, Henry Paulson, whose book, ...
Belated IRS ruling is good news for schools
Original at San Antonio Express
• Wed, Dec 23
Rick Perry to former Treasury Secretary Henry Paulson and his successor, Timothy Geithner. So while Texas lawmakers raised the cap two years ago, ...
Taxpayers Help Goldman Reach Height of Profit in New Skyscraper
Original at Bloomberg
• Mon, Dec 21
Henry Paulson, then Goldman Sachs's chief executive officer, threatened to abandon the project after delays in addressing his concerns about safety. ...
The Financial Villain of the Decade (On the Street)
Original at Smartmoney.com
• Sun, Dec 20
By letters@smartmoney.com (Clancy Nolan) Former Fed Chairman Alan Greenspan nabbed 17% of the vote. Five percent of the votes went to former Enron CEO Lay. Treasury Secretary Timothy Geithner and former Treasury Secretary Henry Paulson tied with 4% of the vote. Former Countrywide Financial CEO Angelo Mozilo grabbed 3%, as did Fed...
Merry Christmas 2009 from the Grinch that Stole America - The Obama Gang - BigNews.biz
Original at bignews.biz
• Wed, Dec 16
Merry Christmas 2009 from the Grinch that Stole America - The Obama Gang BigNews.biz (press release) All activity by Bush Treasury Secretary and former Goldman executive Henry Paulson was approved by candidate Obama before he was elected, and legitimized by ...
The First Obama Year
Original at Swans
• Sun, Dec 13
Days later, Treasury Secretary Henry Paulson, a former CEO of Goldman Sachs, presented a $700 billion bailout plan, the Troubled Asset Relief Program, ... and more »
Did the NY Fed needlessly spend billions extra on AIG bailout? - Daily Finance
Original at dailyfinance.com
• Tue, Nov 17
The Fed and Treasury pushed Bank of America (BAC) to buy Merrill Lynch, and Henry Paulson, who was Treasury Secretary during the crisis, forced banks to ... Report targets Geithner, Bush over 'back-door' bailout of AIG creditorsChattahBox
Lloyd Blankfein and Goldman Sachs are doing 'Satan's work'
Original at Examiner.com
• Mon, Nov 9
their mortgages from a subprime lender, even after they wrote to Goldman's then-Chief Executive Henry Paulson — later US Treasury secretary — in 2003. ... Banking fat cats are still shamelessly purringTelegraph.co.uk all 190 news articles »
More Arrogation Of Power?
Original at The Market Ticker
• Tue, Oct 27
By nospam@example.com (Karl Denninger) Section 13(3) of The Federal Reserve Act allows The Fed to lend to anyone under "unusual and exigent circumstances." But this was not a loan. It was a pass-through payment to Goldman Sachs and other banks for credit-default swaps that were in fact functionally worthless, as AIG was func...
Bernanke Guilty of Coercion and Market Manipulation
Original at Mish's Global Economic Trend Analysis
• Tue, Oct 20
By Michael Shedlock(noreply@blogger.com) The case against Bernanke was weaker because of Bernanke's selective memory. When confronted by Congress with his role in this mess, Bernanke defense was that he did not remember what he said and Paulson called Bank of America a "Turd in the Punchbowl". Bank of America / Merrill Lynch Recap
September 20, 2008 (Saturday): A $700 Billion Rescue Plan; Debates Move Ahead
Original at Smartmoney.com
• Sat, Sep 19
By letters@smartmoney.com (SmartMoney.com) I Want to Take You Higher Numbers are getting higher by the day when it comes to talk of a government bailout on the subprime crisis. The Bush administration lays out its plan, in three succinct pages, to bail out financial institutions. What it wants: $700 billion to buy up distressed mortga...
September 19, 2008 (Friday): Mortgage Bailout Talks; Backstop for Money-Market Funds
Original at Smartmoney.com
• Fri, Sep 18
The Distress Test After a horrific week on Wall Street, the question in Washington seems to be: Can what you don’t know not hurt you? With fears that the U.S. economy is at a precipice, Bush administration officials go to Congress and ask for carte blanche in buying billions of dollars in dist...
September 18, 2008 (Thursday): Bailout Buzz; Cracking Down on the Shorts
Original at Smartmoney.com
• Thu, Sep 17
By letters@smartmoney.com (SmartMoney.com) Huge Government Bailout Envisioned on Mortgages Remember the Resolution Trust Corporation? The RTC was the government entity created to buy up government group assembled to take over assets from failed savings and loans in the early 1990s. Now it could serve as a model for a government b...
Let the Criminal Indictments Begin: Paulson, Bernanke, Lewis
Original at Mish's Global Economic Trend Analysis
• Thu, Apr 23
By Michael Shedlock(noreply@blogger.com) At a meeting that evening Secretary Paulson, Federal Reserve Chairman Ben Bernanke, Lewis, Bank of America's CFO, and other officials discussed the issues surrounding invocation of the MAC clause by Bank of America. The Federal officials asked Bank of America not to invoke the MAC unti...
Why Ben Bernanke Is Actually Jack Nicholson
Original at blog.newsweek.com
• Thu, Apr 23
Lewis now says he did so only because Henry Paulson threatened him -- if he didn't comply, he was outta there. And now Paulson is saying that he only threatened Lewis because Ben Bernanke told him to. Aaron Sorkin's plot in "AFGM," meanwhile, ...
Paulson and Bernanke: Indictment Time?
Original at The Market Ticker
• Wed, Apr 22
By nospam@example.com (Karl Denninger) Federal Reserve Chairman Ben Bernanke and then-Treasury Department chief Henry Paulson pressured Bank of America Corp. to not discuss its increasingly troubled plan to buy Merrill Lynch & Co. -- a deal that later triggered a government bailout of BofA -- according to testimony by Ke...
Don McNay: Stop the Financial Services "Super Czar"
Original at Huffington Post
• Fri, Mar 20
By Don McNay The outrage over the AIG bonuses has been a landmark for the American people. A lot of officials in Washington and on Wall Street would have been happy to let the bonuses be paid quietly. The current Treasury Secretary was for that idea.
Dean Baker: Getting Lehman Wrong a Second Time
Original at Huffington Post
• Mon, Mar 16
By Dean Baker This set of events has led almost everyone to conclude that the trio who let Lehman go under -- Treasury secretary Henry Paulson, Federal Reserve chairman Ben Bernanke and the then-head of the New York Fed, Timothy Geithner -- erred badly in this decision. That seems a reasonable judgment.
Paulson: "It's Been Difficult"
Original at CBS News
• Wed, Jan 7
NY - It's been difficult", Treasury Secretary Henry Paulson said of his tenure to Economic Club members in Washington today. "If I had it to do over again, ...
Good News For Modern Man: Congressional Bickering
Original at Mish's Global Economic Trend Analysis
• Fri, Dec 5
By Michael Shedlock(noreply@blogger.com) Congressional bickering is back in vogue as Dodd, Frank Warn Paulson May Not Get TARP’s Next $350 Billion. Two top U.S. lawmakers warned Treasury Secretary Henry Paulson that he may not get the second half of the $700 billion financial rescue fund, joining Republicans upset with how the pro...
Alan Schram: Paulson Policy Failures
Original at Huffington Post
• Mon, Nov 24
By Alan Schram The Treasury's policy did nothing to build confidence or stabilize the markets. The precipitous drop of the equity markets in October and November are the market's judgment on their policies. Treasury Secretary Henry Paulson made some disastrous decisions that had major unintended co...
Podcast: President Bush Meets with Secretary of the Treasury Henry Paulson - November 24, 2008
Original at Whitehouse.gov
• Sun, Nov 23
President Bush on Monday said, "The Secretary and I share the concerns of our citizens, concerns about jobs, concerns about their savings accounts. This is a tough situation for America. But we'll recover from it. And the first step to recovery is to safeguard our financial system."
The Fed Supports Lying With Your Money
Original at The Market Ticker
• Mon, Nov 17
By nospam@example.com (Karl Denninger) Trillions of dollars off-balance-sheet? WASHINGTON — U.S. Sen. Jim Inhofe said Saturday that Congress was not told the truth about the bailout of the nation's financial system and should take back what is left of the $700 billion "blank check'' it gave the Bush administration.
Firms Line Up Like Pigs to TARP Trough (Tradecraft)
Original at Smartmoney.com
• Sun, Nov 16
Like pigs at the trough, banks are lining up for the billions of dollars made available to them under the government's Troubled Asset Relief Program (TARP). Originally conceived as a mechanism to purchase toxic mortgage assets, bailout czar Henry Paulson announced last week he's offic...
About that bailout....
Original at Northwest Progressive Institute Official Blog
• Thu, Nov 13
By Andrew(noreply@blogger.com) Many new supplicants are lining up for an infusion of capital as billions of dollars are channeled to other beneficiaries like the American International Group, and possibly soon American Express. Then again, I never thought we'd see a Democratic Congress hand over hundreds of billion...
Ok Mr. Obama, Time To Choose
Original at The Market Ticker
• Thu, Nov 13
By nospam@example.com (Karl Denninger) We are literally on the precipice of a full-on meltdown despite what the talking heads are saying. Henry Paulson and Ben Bernanke came to you and the rest of Congress about a month ago and said they would "fix it" by buying up illiquid assets.
Opinion: Fed Watch: Misguided Policies
Original at Economist's View
• Thu, Nov 13
By Mark Thoma 15:30 *PAULSON SAYS MARKET TURMOIL WON'T ABATE UNTIL HOUSING REBOUNDS In a similar vein, we are seeing increasing interest in support consumer access to credit. Treasury Secretary Henry Paulson today announced that TARP is no longer about troubled assets:
Henry Paulson has a brand-new plan
Original at Salon
• Wed, Nov 12
By Andrew Leonard Furthermore, I think, as a nation, we're better off owning stock in the banks that we are injecting capital in, rather than owning toxic assets that are probably never going to be worth their original valuations. I can envision a future in which Citigroup and JPMorgan and Goldman Sachs end...
Nancy Pelosi, Harry Reid Want Henry Paulson To Use Bailout Money For Auto Industry
Original at Say Anything
• Sun, Nov 9
The letter increases pressure on the administration of George W. Bush to take action as he prepares to hand power to president-elect Barack Obama on Jan. 20. Obama said yesterday that policy options to help the industry will be a “high priority” for his transition team.
Treasury Unveils New Plan To Expand TARP Coverage
Original at Mish's Global Economic Trend Analysis
• Sat, Nov 8
By Michael Shedlock(noreply@blogger.com) House Speaker Nancy Pelosi and Senate Majority Leader Harry Reid sent to send a letter to Treasury Secretary Henry Paulson urging him to assist the Big Three auto makers by considering broadening the $700 billion Troubled Asset Relief Program to help the troubled industry.
Leo W. Gerard: Paulson Deal Cheats American Taxpayers
Original at Huffington Post
• Thu, Oct 30
By Leo W. Gerard Paulson cheated American taxpayers with his initial expenditure from that $700 billion Wall Street bailout fund -- the $125 billion he gave to nine financial institutions. Now Paulson is no rube. He's a former Goldman Sachs CEO, who has surrounded himself with former Goldman Sachs execu...
White House: "Banks Need To Stop Hoarding Money"
Original at Mish's Global Economic Trend Analysis
• Tue, Oct 28
By Michael Shedlock(noreply@blogger.com) Lend For America Plan Treasury Secretary Henry Paulson has said the money would be used by banks to rebuild their reserves but President Bush will have none of that. Federal Reserve chairman Ben Bernanke chimed in with "Who needs reserves when you have printing presses?"
Kevin Phillips: The New Hooverites
Original at Huffington Post
• Tue, Oct 28
By Kevin Phillips The policies that Paulson and Bernanke did implement at such staggering cost have only begun to do their full long-term damage, which will probably come in a round of even more serious inflation. Kevin Phillips's new book is Bad Money: Reckless Finance, Failed Politics and the Global Cri...
Dave Zirin: Merritt-ocracy: The Paulson Sporting Doctrine
Original at Huffington Post
• Thu, Oct 23
By Dave Zirin In the United States, politicians drill into our heads that there is no money for healthcare, no money for infrastructure and no money for schools. But thanks to Treasury Secretary Henry Paulson, we now know that there is cash aplenty for bailing out his brethren on Wall Street.
Morning Brief: The bleeding goes on
Original at Foreign Policy
• Thu, Oct 16
By Blake Hounshell Broader economic recovery will not happen right away," cautioned Federal Reserve Chairman Ben Bernanke in a closely watched speech in New York. McCain especially hammered Obama on "Joe the plumber," a voter and small business owner the Democratic nominee met in Ohio.
Paulson: Investing In Banks Will Give Taxpayers "Maximum Bang"
Original at Huffington Post
• Wed, Oct 15
By The Huffington Post News Editors WASHINGTON — Confidence and cash will restore the economy's health, but it will take time and patience, too, Treasury Secretary Henry Paulson said Wednesday. The needs of our economy require that our financial institutions not take this new capital to hoard it, but to deploy it," Paulso...
Howard A. Rodman: Hank and the Swedish Model
Original at Huffington Post
• Sun, Oct 12
By Howard A. Rodman When the world was about to cave in; when Hank Paulson assured us that the only way to keep the world from caving in was... Various members of Congress, for various reasons, balked. (Or, as Sarah would say: blinked.) And in reaction: the market tanked.
Opinion: Call the G.O.P.’s Bailout Bluff
Original at New York Observer
• Tue, Sep 30
By Joe Conason The failure to pass bailout legislation reflected a political system as bereft of confidence as the financial markets. President George W. Bush and Treasury Secretary Henry Paulson had no credibility to match the arrogance of their initial demand for absolute power in distributing $70...
Morning Brief: Congressional leaders agree to bailout plan
Original at Foreign Policy
• Mon, Sep 29
By Blake Hounshell We sent a message to Wall Street - the party is over," declared House Speaker Nancy Pelosi. "If we don't pass it, we shouldn't be a Congress," added New Hampshire Republican Sen. Judd Gregg. Both John McCain and Barack Obama have offered tepid, carefully hedged support for the bailout plan.
Fannie, Freddie, Ben, and the Dollar
Original at Kudlow's Money Politics
• Wed, Jul 9
As banking and financial stocks lead the overall indexes down into bear-market territory, Fed head Ben Bernanke and Treasury man Henry Paulson are testifying today before Barney Frank’s House Financial Services Committee on ways and means to reform all manner of bank and securities d...
Podcast: Chinese products safety fears
Original at BBC News
• Mon, Jul 30
US Treasury Secretary Henry Paulson visits China this week amid concerns over their exported goods.
Opinion: SOX Silliness at HuffPo: US Capital Markets are Becoming Less Competitive
Original at ProfessorBainbridge.com
• Wed, Jun 27
By Steve Bainbridge From the Journal:Treasury Secretary Henry Paulson, concerned that regulators may not be best positioned to properly oversee fast-moving capital markets, said he is launching an internal review to recommend changes to the regulatory system. To maintain our capital markets' leaders...
Podcast: Treasury chief opposes investor efforts to recover losses
Original at AZ Central.com
• Thu, Jun 21
WASHINGTON Treasury Secretary Henry Paulson said Wednesday that he personally initiated his departments role in a Supreme Court case that could hurt shareholders efforts to recover losses in securities fraud lawsuits.
Ted Frank on Stoneridge v. Scientific-Atlanta
Original at ProfessorBainbridge.com
• Wed, May 30
By Steve Bainbridge In the W$J, Ted explains why this securities fraud case pending before the US Supreme Court is of momentous import:Treasury Secretary Henry Paulson called securities litigation the Achilles heel for our economy, endangering the global competitiveness of American financial market...
Podcast: President Bush Participates in Swearing-In Ceremony for Secretary of the Treasury Henry Paulson - July 10, 2006
Original at Whitehouse.gov
• Sun, Jul 9
President Bush on Monday said, "Hank comes to his position with a lifetime of experience in business and finance. He has an intimate knowledge of global markets. He will work to keep this economy of ours competitive and growing, and he will work to ensure fair treatment for America's goods a...
Podcast: Mr. Risk Goes to Washington
Original at BusinessWeek
• Thu, Jun 1
Investment bankers are making bigger bets with their own assets than ever before, gambling that huge returns will make up for losses when things turn ugly. BusinessWeek Executive Editor John Byrne and investment banking editor Emily Thornton talk about how the skills that Treasury Sec...