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Latest Henry Paulson Stories

2008-09-29 18:00:10

By Julie Hirschfeld Davis WASHINGTON - Congressional leaders and the White House agreed Sunday to a $700 billion rescue of the ailing financial industry after lawmakers insisted on sharing spending controls with the Bush administration. The biggest U.S. bailout in history won the tentative support of both presidential candidates and goes to the House for a vote today. The plan, bollixed up for days by election-year politics, would give the administration broad power to use billions upon...

2008-09-29 09:00:19

By Associated Press WASHINGTON -- The proposal to bail out U.S. financial markets to the tune of up to $700 billion creates a lot of potential short- term winners, as well as some losers. Wall Street and the banking industry are perhaps the biggest winners. Scores of banks and other financial institutions faced with going under stand to gain a lifeline that should allow them to start making loans again. Under the plan that congressional aide sought to put into final form Sunday, the...

2008-09-28 12:00:10

By Charles Babington and Alan Fram Associated Press WASHINGTON -- Congressional leaders and the Bush administration reached a tentative deal early today on a landmark bailout of imperiled financial markets whose collapse could plunge the nation into a deep recession. House Speaker Nancy Pelosi announced the $700 billion accord just after midnight but said it still has to be put on paper. "We've still got more to do to finalize it, but I think we're there," said Treasury Secretary Henry...

2008-09-27 12:00:10

By Julie Hirschfeld Davis and David Espo Associated Press WASHINGTON -- The Bush administration and Congress anxiously revived negotiations Friday on a $700 billion financial bailout, one day after the largest bank collapse in U.S. history provided a brutal reminder of the risks of failure. "I'm convinced that by Sunday we will have an agreement that people can understand on this bill," predicted Massachusetts Rep. Barney Frank, a key Democrat in eight days of up-and-down talks designed to...

2008-09-26 21:00:09

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...

2008-09-26 12:00:09

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...

2008-09-26 12:00:09

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...

2008-09-26 09:00:17

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...

2008-09-25 12:00:23

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...

2008-09-25 09:00:09

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...


Word of the Day
omadhaun
  • A fool; a simpleton: a term of abuse common in Ireland and to a less extent in the Gaelic-speaking parts of Scotland.
This word is partly Irish in origin.