Latest Henry Paulson Stories

By Jennifer Loven and Julie Hirschfield Davis INSIDE: Editorial 4A; Morgan Chase buys Wamu 9A; CEOs bailout 8B WASHINGTON - A Republican rebellion stalled government efforts Thursday to avoid economic meltdown, a chaotic turnaround that disrupted the choreography of an extraordinary White House meeting meant to show joint resolve from the president, the political parties and the presidential candidates. Instead, the summit broke up so bitterly that Treasury Secretary Henry Paulson got on...

The deal is on. No, it's off. No, it's on again. It was a day in Washington that would have tried the patience of Monty Hall. After several days of nearly nonstop negotiations, congressional leaders scrambled Thursday to hammer out a compromise agreement on Treasury Secretary Henry Paulson's proposed $700 billion financial system bailout in advance of an emergency White House meeting called by President George W. Bush. Adding to the tension, the White House meeting was also attended by...

The $700 billion Wall Street bailout proposed by U.S. Treasury Secretary Henry Paulson is structurally flawed, Sen. Richard Shelby, R-Ala., said Friday. "It does nothing basically for the stressed mortgage payer," Shelby said on CBS's "Early Show.""It does a lot for three or four or five banks, including foreign banks." Shelby, the ranking Republican on the Senate Banking Committee, said he had a list of more than 200 top economists who "say this structure ... is a bad plan.""I think if we...

By Jennifer Loven and Julie Hirschfeld Davis Associated Press WASHINGTON -- A Republican rebellion stalled government efforts Thursday to avoid economic meltdown, a chaotic turnaround that disrupted the choreography of an extraordinary White House meeting meant to show joint resolve from the president, the political parties and the presidential candidates. Instead, the summit broke up so bitterly that Treasury Secretary Henry Paulson got on one knee before Democratic leaders in a theatrical...

Arun Gupta was enraged as he learned the details of Treasury Secretary Henry Paulson's plan to fix the U.S. banking system with $700 billion in taxpayer funds. The 43-year-old copy editor and freelance journalist, who publishes his own alternative newspaper, The Indypendent, needed to channel his angst but couldn't find a live protest to attend. So on Sept. 22, he sent an e-mail to some politically active friends in New York. Within days, they'd planned a protest against the bailout in New...

By SHERYL GAY STOLBERG AND DAVID M HERSZENHORN By Sheryl Gay Stolberg and David M. Herszenhorn The New York Times WASHINGTON President Bush appealed to the nation Wednesday night to support a $700 billion plan to avert a financial meltdown on Wall Street, and he invited both major presidential candidates to join him and congressional leaders at the White House today to forge a bipartisan compromise. Warning that " a long and painful recession " could occur if Congress does not act...

By JEANNINE AVERSA By Jeannine Aversa The Associated Press WASHINGTON Refusing to be pushed, Republicans and Democrats alike rebuffed dire warnings Tuesday from the government's top economic officials of recession, layoffs and foreclosed homes if Congress doesn't quickly approve the administration's emergency $700 billion financial bailout plan. Congressional leaders still predicted passage - with significant changes - but Wall Street's nerves were hardly soothed. The Dow Jones...

By Anna Jo Bratton Associated Press OMAHA, Neb. -- Warren Buffett's Berkshire Hathaway Inc. is investing at least $5 billion in Goldman Sachs, a huge vote of confidence for one of the survivors of the credit crisis that felled two of its investment banking peers. In addition to buying $5 billion in preferred stock, Berkshire also got warrants to buy another $5 billion in Goldman's common stock. Goldman also said late Tuesday it would raise another $2.5 billion in its own public stock...

By THE ASSOCIATED PRESS WASHINGTON - Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson urged Congress to quickly pass a $700 billion financial bailout, warning that letting problems persist would have dire consequences for the national economy. The nation's top two economic leaders made the assertions in prepared remarks to be given later today to the Senate Banking Committee. Their latest take on the financial crisis came as the Bush administration and lawmakers...

From wire reports WASHINGTON The Bush administration and congressional leaders moved closer to an agreement on a historic $700 billion bailout for financial firms on Monday, including tight congressional oversight and new help for homeowners at risk of foreclosure. But lawmakers in both parties voiced anger over the steep cost and even skepticism about the plan's chances of success. As a ferocious debate began on Capitol Hill on Monday, Congress and the administration remained at odds...