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[DC News Updates] Press Briefing by Dana Perino and Secretary of the Treasury Henry ...: SECRETARY PAULSON: Well, I've got to say our capital markets, our response have a big impact on our economy overall, that's why they're important. It's important, as I said in my remarks to the American people, to the growth in our .
[Economy-Finance] Why they let Lehman die: Why did Fed Chairman Ben Bernanke and Treasury Secretary Henry Paulson change their tune? Experts say the Fed’s lack of action on Lehman wasn’t as much a change in thinking as it was a change in circumstance.
[US Treasury - Press Releases - Financial Markets] Paulson Statement on Lehman Brothers: I strongly support the actions announced tonight by SEC Chairman Chris Cox, Federal Reserve Chairman Ben Bernanke and market participants. These changes will strengthen and enhance our financial markets.
[Industry Standard News and Predictions] Bush says economy strong enough to handle turmoil: being forced to sell itself to Bank of America, and American International Group Inc., the world's largest insurance company, seeking emergency funding to shore up its balance sheet.
[Town 9 | Who] Lehman collapse puts obama back on offense: It’s been the Republicans, the philosophy that John McCain has adhered to that’s driven us in the hole,” Biden told CNN on Tuesday. “And when you have a doctor that’s committed malpractice, you don’t hire him for the second operation.” Debate the economy issue.
[Economy-Finance] Wall Street’s morning after: In an effort to rescue the firm, representatives of several major financial institutions met with Paulson, Securities and Exchange Commission Chairman Christopher Cox and New York Federal Reserve Bank President Timothy Geithner to discuss Lehman and the volatile state of the financial markets.
[The Register-Mail Home RSS] Meltdown in US finance system pummels stock market: The failure of Lehman and probable job losses at Merrill are also a blow to the New York City economy, which is still trying to absorb a blow from shrunken tax revenues after the collapse of Bear Stearns in March. The city and its outlying suburbs rely heavily on taxes paid by workers in the financial services industry.
[Economy-Finance] FOREX-Dollar falls vs euro with US stocks on Lehman: Treasury Secretary Henry Paulson said on Monday the U.S.financial system remained sound despite current stresses and hewas prepared to take further actions if necessary to maintainstability. For details, see [ID:nN15280825].
[Undiplomatic] Compare and Contrast: Obama and Paulson on Economic Crisis: Should things really go south, there really isn’t a safety net capable of preventing the slide. Face it: we’re broke. As a government, we’re no different that Lehman Brothers: our debits exceed our assets. Do people really think that the Chinese are going to continue to bail us out, especially now that they’re beginning to find other markets for their goods? (For the Chinese perspective, read between the lines of this piece.)
[AmericasNewsToday.Com /.Org - Industry's First Blog-Format News and Editorial Site] White House Press Briefing by Dana Perino and Henry Paulson Monday ...: PERINO: I know Secretary Paulson has been in touch with his counterparts from across the world, and I would just have to refer you to Treasury Department for specifics on whether or not a government has expressed concern about investing in America. I think you heard Secretary Paulson talk about how our economy compares to that of others - developing* countries around the world, and that he expressed that ours is stronger than most.
[CJ Kentucky politics blog] Paulson discusses Wall Street meltdown: Secretary, could you just put aside for a second the specifics of AIG or Merrill or Lehman Brothers and can you just tell us how this happened and how did we get there? I mean, beyond housing correction, take us back and explain to the American people, how did we get here?
[Dollars & Sense blog] Financial Russian Roulette: But Henry Paulson, the Treasury secretary, was adamant that he wouldn’t sweeten the deal by putting more public funds on the line. Many people thought he was bluffing.
[Richard Spencer's blog listings.] Why Hank Paulson will rescue China but not Lehman Brothers: My favourite friend of China, US Treasury Secretary Henry "Hank" Paulson, has decided not to rescue Lehman Brothers. What has his decision got to do with China?
[The Rollins Financial Blog] Bank of America Surprise - It Will Buy Merrill Lynch, and Balks at ...: After a weekend of discussions regarding Lehman Brothers, the Wall Street Journal has reported that Bank of America will be acquiring Merrill Lynch for $29 a share, a deal that will give the bank the world's largest brokerage and a sizable investment bank, the Wall Street Journal reported on Sunday.
[Tax News] Paulson Stresses Soundness, Resilience of US Financial System: Paulson reiterated that the root of the current problems in the financial sector lies in the housing correction. "Until we stem the housing correction, until the biggest part of that is behind us and we have more stability in housing prices, we're going to continue to have turmoil in the financial markets." He added that there is a "reasonable chance" the biggest part of the housing correction could be over within a number of months.
[William & Mary Election 2008 Blog] On the Campaign Trail: Reactions to the Fannie Mae and Freddie Mac ...: Democratic leaders in Congress are struggling to give Obama the edge in the increasingly close polls by demonstrating that they are better at dealing with the nation’s economic problems than George Bush has been (and presumably McCain will continue to be).
[Maine Real Estate Blog] The Basics of the Federal Takeover of Fannie Mae & Freddie Mac: Bush on July 30, 2008””enabled expanded regulatory authority over Fannie Mae and Freddie Mac by the newly established FHFA, and gave the U.S. Treasury the authority to advance funds for the purpose of stabilizing Fannie Mae, or Freddie Mac, limited only by the amount of debt that the entire federal government is permitted by law to commit to. The law raised the Treasury’s debt ceiling by US$ 800 billion, to a total of US$ 10.7 trillion, in anticipation of the potential need for the Treasury to have the flexibility to support Fannie Mae, Freddie Mac, or the Federal Home Loan Banks.
[Mortgage 101 Blog] Paulson Sees Housing Market Bottom Within a “Number of Months”: The government’s role, according to Paulson, in speeding up the correction is to make sure plenty of mortgage funding is available. Several months before bailing out Freddie and Fannie, the federal government stepped in to keep a private sector company, Bear Stearns from going under. Yet as major investment bank Lehman Brothers filed for bankruptcy Monday, the Feds maintained a hands-off policy, preferring instead to simply orchestrate a meeting of potential buyers to save the failed company.
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