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