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Latest Henry Paulson Stories

2008-12-12 16:36:00

'Thousands of steel, rubber, glass, auto parts and mine workers impacted too' WASHINGTON, Dec. 12 /PRNewswire-USNewswire/ -- Leo W. Gerard, President of the United Steelworkers (USW), condemned Thursday night's U.S. Senate vote that rejected the proposed auto industry bridge loan being supported by the UAW, the White House and the Democratic leadership. (Logo: http://www.newscom.com/cgi-bin/prnh/20080131/DC12982LOGO) "We have hope that the Bush Administration and Treasury Secretary...

2008-12-04 00:56:51

Treasury Secretary Henry Paulson Jr., speaking in Beijing Thursday praised the accomplishments of the U.S.-China Strategic Economic Dialogue. Paulson said during a period of trade tension between the two nations, the talks have helped us manage difficult trade and investment issues by avoiding harmful and counterproductive market-closing initiatives." He said this week's meeting will seek to reach substantive short- to long-term agreements in electricity generation, transportation, clean...

2008-12-02 07:44:51

One of three oversight mechanisms for the $700 billion Emergency Economic Stability Act is scheduled kick into action in Washington. The Government Accountability Office will give Congress the first of its bimonthly reports on the bailout's progress Tuesday, CNNMoney reported. U.S. Treasury Secretary Henry Paulson Jr. and Federal Reserve Chairman Ben Bernanke have said the liquidity measures have begun to free up credit, although some are expecting faster results and others have complained...

2008-11-28 08:15:48

Student advocacy groups warned U.S. Treasury Secretary Henry Paulson Jr. that a new program to support private student loans could hurt borrowers. Several groups, including Consumers Union, the U.S. Student Association and the National Consumer Law Center, wrote to Paulson to complain a $200 billion federal plan to support various consumer loans, including student loans, will not solve the affordability crisis caused by the failing economy, The Washington Post reported Friday. FinAid reported...

2008-11-25 11:28:58

The U.S. Federal Reserve Board said Tuesday it would create a new program to help investors purchase credit card, student, and auto-loan backed securities. Under the Term Asset-Backed Securities Loan Facility, or TALF, the Federal Reserve Bank of New York will lend up to $200 billion to investors. The U.S. Treasury will also contribute $20 billion, using funds from the Troubled Asset Relief Program, the Fed said in a statement. The program is designed to ease credit for consumers. In...

2008-11-19 12:15:05

Senate approval of a new bailout package for U.S. automakers appeared unlikely, even after Detroit's top executives personally pleaded for help, senators said. Votes for what? said Sen. Christopher Dodd, D-Conn., chairman of the Senate banking committee, after Tuesday's hearing in which executives from Chrysler and General Motors Corp. said they could run out of cash by the end of the year. The White House has been advocating amendment of a $25 billion loan package to waive fuel-efficiency...

2008-11-18 10:40:31

U.S. Federal Reserve Chairman Ben Bernanke told members of Congress Tuesday the federal equity purchase plan has begun to take hold. The value of the TARP (the Treasury's Troubled Asset Relief Program) has already been demonstrated "¦ and spread to many countries, Bernanke told members of the House Financial Services Committee. Bernanke said combined efforts including the Federal Deposit Insurance Corp.'s guarantee of non-interest bearing bank accounts and expanded Federal Reserve...

2008-11-18 10:23:58

U.S. Treasury Secretary Henry Paulson Jr. told members of Congress Tuesday to look beyond Wall Street to find the effects of the financial bailout. The $700 billion Emergency Economic Stabilization Act was not a panacea for all our economic difficulties, Paulson told members of the House Financial Services Committee in a prepared statement. The crisis in our financial system had already spilled over into our economy and hurt it, he said. It will take a while to get lending going and repair...

2008-11-12 15:00:03

The bailout package is for the financial industry, not the U.S. auto industry, despite its importance to the economy, Treasury Secretary Henry Paulson said. The intent of the $700 billion Troubled Asset Relief Program is to "deal with the financial industry," Paulson said during a news conference in which he provided an update on the bailout. "I know that this administration believes the auto industry is a very important, critical industry in this country. Manufacturing is critical to the...

2008-11-12 12:00:02

The federal government backed off a plan to buy toxic mortgages, U.S. Treasury Secretary Henry Paulson said Wednesday, favoring a program of investment. In looking for ways to address the U.S. economic crisis, Paulson said in early October that buying bad home loans was a likely answer. However, further review revealed buying the bad loans was "not most effective way to use (bailout) funds," he said Wednesday during a news conference. The administration of the $700 billion rescue...


Word of the Day
lunula
  • A small crescent-shaped structure or marking, especially the white area at the base of a fingernail that resembles a half-moon.
This word is a diminutive of the Latin 'luna,' moon.
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