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Latest Henry Paulson Stories

2008-09-24 09:00:08

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...

2008-09-23 21:00:02

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...

2008-09-23 12:00:09

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...

2008-09-23 09:00:09

By Associated Press WASHINGTON -- Scrambling for a swift deal on the $700 billion bailout for failing financial firms, key Democrats and Bush administration officials agreed Monday to include mortgage help for beleaguered homeowners but wrangled over other issues, including "golden parachutes" for executives who benefit from the unprecedented rescue. Democrats demanded that the measure limit pay packages for executives of companies helped by the biggest financial rescue since the Great...

2008-09-23 06:00:09

By Stephen Labaton, David M. Herszenhorn, and Mark Landler Democrats in Congress are setting their own terms for a plan to rescue U.S. financial institutions, including greater legislative oversight of the Treasury Department, more direct assistance for homeowners and limits on the pay of top executives whose companies seek help. The Democrats' demands came as the Treasury secretary, Henry Paulson Jr., blanketed the Sunday talk shows in the United States to promote the $700 billion...

2008-09-22 21:00:00

By Martin Crutsinger and Charles Babington WASHINGTON - The Bush administration insisted Sunday that Congress must move quickly to approve what one lawmaker called the "mother of all bailouts" - a $700 billion proposal to buy a mountain of bad mortgage debt in an effort to unfreeze the nation's credit markets. Congressional leaders endorsed the plan's main thrust, saying passage might occur in a matter of days, but they said it must be expanded to include help for people on Main Street...

2008-09-22 12:00:08

By MARK McLAUGHLIN WALL Street's last two remaining major investment banks have switched their status to bank holding companies in a bid to survive the current financial crisis that has decimated banking institutions on both sides of the Atlantic. The Federal Reserve has allowed investment banks Goldman Sachs and Morgan Stanley to make the change to their status in order to allow them easier access to credit by opening commercial banks. They will now be able to take deposits and have...

2008-09-22 09:00:08

From wire reports WASHINGTON President Bush's $700 billion rescue plan for Wall Street ran into trouble Sunday as Democrats insisted on provisions for struggling homeowners and limits on CEO pay that Treasury Secretary Henry Paulson opposes. With the cost of the proposed bailout equal to about $2,000 for every man, woman and child in the United States, Democrats began pushing for language in the rescue plan that would steer more aid to homeowners struggling to stay in their homes and...

2008-09-22 09:00:08

By Kevin G. Hall McClatchy Newspapers WASHINGTON -- President Bush's $700 billion rescue plan for Wall Street ran into trouble Sunday as Democrats insisted on provisions for struggling homeowners and limits on CEO pay that Treasury Secretary Henry Paulson opposes. With the cost of the proposed bailout effort equal to about $2,000 for every man, woman and child in the United States, Democrats began pushing for language in the rescue plan that would steer additional aid to homeowners...

2008-09-20 15:00:18

By ALAN ZIBEL By Alan Zibel The Associated Press WASHINGTON Home prices. That's what the Bush administration's historic Wall Street bailout is really about. Falling home prices nationwide have acted like dominoes, knocking homeowners into foreclosure and taking down lender after lender, until the entire global financial system was in jeopardy. Experts said the government's enormous plan to relieve Wall Street banks of their bad investments has a decent chance of stabilizing home...


Word of the Day
drawcansir
  • A blustering, bullying fellow; a pot-valiant braggart; a bully.
This word is named for Draw-Can-Sir, a character in George Villiers' 17th century play The Rehearsal.
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