Henry Paulson news stories on Newser

Dear Uncle Sam: Thanks

Polly Davis Doig — Wed, 17 Nov 2010 08:28:03 CST

Sure, it's all the rage to curse big government, government spending, government in general, but there's one guy who's thankful for it—and his name happens to be Warren Buffett. Writing a thank-you letter disguised as an op-ed for the New York Times, Buffett praises Uncle Sam's intervention in the...

Paulson: In '08 Crisis, John McCain Had No Plan

Polly Davis Doig — Sat, 06 Feb 2010 12:40:00 CST

With the US economy in utter freefall, John McCain suspended his presidential campaign, jetted to Washington, called a meeting to fix the crisis—then did nothing, according the Henry Paulson's new book, On the Brink . In an excerpt in the Wall Street Journal, the former Treasury secretary recounts McCain's odd...

Fed Duo Sounded Alarm Over AIG 'Gifts' to Banks

Rob Quinn — Wed, 27 Jan 2010 05:47:53 CST

Two Federal Reserve governors expressed their unease about the Fed's rejection of a plan to force big banks to return $30 billion in cash they received from AIG before its bailout in late 2008. The officials warned that the decision to let the banks, including Goldman Sachs, keep the collateral...

The Lowest Points of the 'Decade of the Oligarchs'

Kevin Spak — Thu, 24 Dec 2009 14:50:00 CST

The 2000s were dominated by George W. Bush and the new American oligarchy he represents, writes Juan Cole. He lists hit 10 lowest points of an awful decade: “The constitutional coup of 2000,” in which “ugly racial and other low tricks” and a “far right-wing Supreme Court” delivered the election...

Goldman Seizes Homes as Securities Sour

Caroline Miller — Mon, 02 Nov 2009 08:21:51 CST

Imagine finding yourself in a foreclosure battle and discovering that your opponent isn't the obscure lender who wrote your insane mortgage, but the formidable Goldman Sachs. It seems that after years of buying subprime mortgages and packaging them into bonds, at a handsome profit, Goldman is now in the business...

8 Days That Shook the Financial World

Caroline Miller — Wed, 16 Sep 2009 21:35:26 CDT

James Stewart’s reconstruction of the 8 nail-biting days, a year ago, in which the federal government stepped in to stop the collapse of the world financial system—published in the New Yorker this week, just as Fed chief Ben Bernanke was declaring the recession officially over—makes riveting, tense reading....

Toothless Watchdogs Not Sure Where TARP Money Went

Rob Quinn — Mon, 10 Aug 2009 03:33:57 CDT

Anybody seen $700 billion? The government watchdogs charged with overseeing TARP spending don't seem able to answer even basic questions about where the money went, Chris Adams writes at McClatchy. A special inspector general, a congressional panel, and eight other inspectors general are supposed to be keeping track of the...

Paulson Still Dogged by Ethics Queries

Wesley Oliver — Sun, 09 Aug 2009 11:28:59 CDT

As a former Goldman Sachs exec, Henry Paulson vowed to avoid any potential conflicts of interest when he was appointed President Bush’s Treasury secretary. But seven months after he left office, the nagging questions surrounding Paulson’s tumultuous term in office suggest he may not have succeeded, Gretchen Morgenson and Don...

Paulson: BofA-Merrill Deal Saved US From 'Great Peril'

Sarah Quinn — Thu, 16 Jul 2009 11:15:51 CDT

Former Treasury Secretary Henry Paulson says his role in Bank of America’s acquisition of Merrill Lynch was appropriate and necessary, MarketWatch reports. “I am confident that our responses were substantially correct and that they saved this nation from great peril,” Paulson told a House oversight committee today in response to...