o Don't be afraid to give it right back to him!!! "The more voters learn about the proposed $700-billion taxpayer-backed Wall Street rescue plan, the less they like it." (PDF warning click --->) Highlights of the Discussion Draft Bill Currently being considered by Congress "Just 24% of U.S. voters now favor the plan first proposed by Treasury Secretary Henry Paulson a week ago and the subject of very public negotiations on Capitol Hill ever since, according to a Rasmussen Reports national... Read Full Story
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Tale of the first $350 billion - Dec. 19, 2008
See original here Tale of the first $350 billion - Dec. 19, 2008
FinanceProfessor.com: Tale Of The First $350 Billion - Dec. 19, 2008 Have you wondered where the first $350 billion went? Here is how... Read Full Story
Democrats lash out at Paulson over mortgages
Frank says some of $700 billion must go to homeowner relief
By Greg Robb & Ronald D. Orol , MarketWatch
Last update: 5:19 p.m. EST Nov. 18, 2008
This is an update to correct the number of mortgages the FDIC plan aims to modify.
WASHINGTON (MarketWatch) -- Democratic lawmakers told Treasury Secretary Henry Paulson on Tuesday that he must reverse course and spend some of the $700 billion in bailout funds to keep individual homeowners... Read Full Story
by Charley James
One of Chairman Mao Tse Tung’s “sayings” immortalized in his Little Red Book deals with stealth in politics and war. “Make a noise in the east,” the Great Helmsman wrote, “and strike in the west.”
On Monday afternoon, we realised that Treasury Secretary Henry Paulson must be channelling Chairman Mao. While everyone on the Hill and around America was focusing attention on the election and bank rescue plan – a noise in the east – on Sept. 30, Paulson struck in the west by... Read Full Story
WASHINGTON (AP) -- President Bush on Tuesday announced a $250 billion plan by the government to directly buy shares in the nation's leading banks, saying the drastic steps were "not intended to take over the free market but to preserve it."
Nine major banks will participate initially including all of the country's largest institutions, he announced, in a move that sent stocks soaring on Wall Street.
Some of the nation's largest banks had to be pressured to participate by Treasury... Read Full Story
The City Council has approved financing $60 million to lure a Major League Soccer franchise to Portland, but hasn't resolved how to raise a quarter of the money. The $60 million would go to renovating PGE Park to meet MLS specifications, and building a new ballpark for the Portland Beavers, the city's Triple-A baseball team. Major League Soccer is expected to choose two expansion teams by March 19. Four cities are in the running: Portland, Vancouver, Ottawa and St. Louis. Merritt Paulson... Read Full Story
The U.S. House of Representatives has passed the revised version of $700 billion bank bailout plan intended to bolster the ailing U.S. financial system.
Wall Street traders had been watching developments in Washington closely.
The House rejected the original bill on Monday, sending stocks tumbling around the world.
But lawmakers approved the rescue package, backed by U.S. President George W. Bush and Treasury chiefs, Friday after the U.S. Senate passed it by a large majority on... Read Full Story
President George W. Bush said on Saturday he would quickly sign into law a far-reaching USD 700 billion bill to bailout the tottering US financial industry and thanked Congress for acting in a bipartisan and decisive fashion.
"There were moments this week when some thought that the federal government could not rise to the challenge. But thanks to the hard work of members of both parties, in both houses, and the spirit of cooperation between Capitol Hill and my administration, we completed... Read Full Story
Reuters
Paulson leaves door open to mortgage modification MarketWatch - 4 hours ago By Ronald D. Orol WASHINGTON (MarketWatch)-Treasury Secretary Henry Paulson on Monday indicated that he might support a new approach to mortgage foreclosure … Paulson’s Remarks on the US Economy Wall Street Journal Blogs Paulson Says Treasury Actively Mulling New Rescue Programs Wall Street Journal Paulson: Feds to expand rescue CNN BusinessWeek - Reuters all 60 news articles
More... Read Full Story
The $700bn (£494bn) US bail-out package has already "clearly helped stabilize" the financial system, US Treasury Secretary Henry Paulson has said. However he added that there would be many challenges in the future Mr. Paulson had said the the authorities had abandoned plans to use some of the $700bn to buy up banks' bad debts. He also warned against expanding the bail-out to automakers Instead of buying banks' large debts, as proposed in the rescue deal, the bail-out will be used to buy... Read Full Story
