Read a little. Learn a lot. • Tightly-written news, views and stuff • Follow us on Twitter • Be a Facebook Fan • Tumble us!

01 Jan 2011 21:54

tags

Biz: Henry Paulson personally lost $1 million in the housing crisis

  • See? Treasury secretaries suffer just like the rest of us. You can call Henry Paulson a lot of things, but one thing you can’t call the Bush-era Treasury Secretary is “unaffected by the financial crisis.” See, Paulson’s home just got sold on the D.C. housing market, and it went for far less than he bought it for. Let’s check the numbers already:
  • $4.3M the cost he paid for his home, near the National Cathedral, in 2006 (which is swank, BTW)
  • $4.6M the amount Paulson, no longer a bureaucrat, put the home on the market for in April
  • $3.25M the amount Paulson’s home finally sold for a couple of weeks ago – a $1 million loss source
Posted by Ernie Smith • 0 Comments • Permalink

07 Feb 2010 20:36

tags

Politics: Max Headroom: A bunch of financial guys hit the Sunday shows


  • “I Won’t Close the Door” Sarah Palin’s answer here sounded kinda vague, but read between the lines – it’s clear she’s been thinking about it. Come on. She’s already thinking like a presidential candidate. Whatevs.

  • The old financial dudes Today on “Meet the Press,” Henry Paulson and Alan Greenspan try to analyze the recession and the job market. Greenspan suggests tax cuts to drive economic activity that encourages job creation.

  • The new financial dude Timothy Geithner, Paulson’s replacement as treasury secretary, says we’re seeing some “encouraging,” though uneven, signs of growth in the economy. He says a double-dip is unlikely.
Posted by Ernie Smith • 0 Comments • Permalink

27 Jan 2010 10:18

tags

Biz, U.S.: Timothy Geithner: We had to save AIG to save the economy

  • We acted because the consequences of AIG failing at that time, in those circumstances, would have been catastrophic for our economy and for American families and businesses.
  • Treasury secretary Timothy Geithner • In remarks prepared before a meeting in front of a House committee today. The AIG bailout, and the TARP program, have been the subject of a watchdog probe. Today’s hearing, which also features Geithner’s predecessor Henry Paulson, was called after documents from the Federal Reserve Bank of New York (led by Geithner when Paulson was Treasury secretary) suggested that information was withheld from the public on the AIG bailout. source
Posted by Ernie Smith • 0 Comments • Permalink

14 May 2009 08:01

tags

Biz, U.S.: Former treasury secretary Paulson strong-armed the banks

  • If a capital infusion is not appealing, you should be aware that your regulator will require it in any circumstance. We don’t believe it is tenable to opt out because doing so would leave you vulnerable and exposed.
  • Former Treasury Secretary Henry Paulson • In a one-page memo of talking points prepared for a meeting last October, when he essentially forced the hand of nine banks the Bush administration felt were “central to any solution” to the credit crisis. The situation already sucked enough; did they really need to be strongarmed? • source
Posted by Ernie Smith • 0 Comments • Permalink
 
 
top tags