Paulson

Treasury Secretary Paulson said on Wednesday that the bailout plan finally approved by Congress gives him wide authority to inject capital in the banking system which he will excercise urgently. Hearing him say that is great relief since we don’t need a failing banking system in our country.  The downer side of his speech was his recognition [...]

The worst is yet to come for Hank Paulson, the US Treasury Secretary. While Mr Paulson has been working around the clock, every weekend, for five weeks to guarantee more than $1 trillion worth of American mortgages, manage the collapse of two banks, the distressed sale of two others and to secure the $850 billion bailout package, his work has barely begun. Mr Paulson has just over a month to c

This season's premiere of 60 Minutes included an interview with Treasury Secretary Paulson, which tagged along with him over the last two weeks as the financial crisis unfolded. Definitely worth a look:Watch CBS Videos Online

Professor Robert Shimer, University of ChicagoIn a letter to Greg Mankiw, Professor of Economics at Harvard, Professor Robert Shimer of the University of Chicago shines a bright light on the $700 billion financial system bailout proposed by Henry Paulson. His prescription, that financial institutions be forced to raise capital in the market to increase their liquidity, would put the onus on the i

[Usually, I try to be humorous, but I’m so irritated that the American Congress is giving away $700 billion to Wall Street, I thought I’d write about that. Humor to resume next Wednesday.] Photo by Kai Hendry A certain fat cat, Henry Paulson, had made the acquaintance of a taxpayer mouse (BradBrown.com), and had said so [...]

Now, let us see the facts today:$ 512 Billions – Already written off by banks and brokers$ 59 Billions – Given to Bear Stearns and JP Morgan combine$ 200 Billions – given recently to Fannie Mae and Freddie Mac$ 85 Billions – given to AIG as capital$ 2,400 Billions – Needed by Fannie Mae and Freddie Mae$ 1,300 Billions – Needed by AIG for future provisions$ 700 Billions – Requested by

On BBC News tonight it was suggested that this credit crunch cook-up is a way to keep the banks in place, make sure future investment could work for business, and above all raise confidence all round. That's one point of view. Another is that Secretary Paulson, a former CEO of Goldman Sachs, is just bailing out his mates who got the green-eyed monster syndrome.This is a huge amount of money. Well,

Print and Tax This is what we can expect from the $ 700 billion dollar (and all the Other initiatives Fannie...AIG and all other black holes. Etc.) Call to save the economy. Accepting this initiative will cost every American $37,000. Putting this in its proper context this ...Approximately 73% of the median US salary just for one year. It is beyond unbelievable. We are dammed if we and dammed i

Congressman Peter DeFazio (D-OR) made the following statement on the floor of the House of Representatives today."2007 was a great year on Wall Street. Bonuses of $38 billion to themselves. Secretary Paulson came to us after just having received a $39 million bonus from Goldman Sachs. He came here to the applause of the Wall Street elites and others.His first crisis was Bear Stearns. He bailed out

To comply with new UK regulations, hedge funds are being forced to disclose financial short positions. Two very well known hedge funds whom we've covered a lot here on Market Folly have already disclosed their positions. Firstly, Blue Ridge Capital is ran by John Griffin, a 'Tiger Cubs' (a.k.a. pupil of Julian Robertson while at Tiger Management). Griffin is well known because he was Julian Robe

Norton Garfinkle, former economics professor and current chairman of the nonprofit, nonpartisan education and research organization, Future of American Democracy Foundation, has written a highly readible book about the modern American economy. The American Dream vs. The Gospel of Wealth: The fight for a Productive Middle-Class Economy is written for the citizen reader, has a [...]

One of the aspects of the Paulson bailout bill that was not clear until today is that the Treasury has no intention of running a true action for the toxic... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

More commentary on the proposed bailout from the NY Times... “This administration is asking for a $700 billion blank check to be put in the hands of Henry Paulson, a guy who totally missed this, and has been wrong about almost everything,” said Dean Baker, co-director of the liberal Center for Economic and Policy Research in Washington. “It’s almost amazing they can do this with a straig

I was thinking about something that former Lehman Brothers CEO, Richard Fuld said at the Lehman Brothers annual meeting in April. He was still confident that he could sail his sinking boat back to the harbor. “I will hurt the shorts, and that is my goal,” said Fuld. After hearing that, the only thing that [...]

More details related to the government's $700 billion proposal created by Hank Paulson, Secretary of the U.S. Treasury, have been revealed. The plan is to raise $700 billion through the sale of US government bonds for $50 billion each. In order to facilitate the additional debt, the proposal is to raise the U.S. public debt ceiling from $10.6 to $11.3 trillion. Also under the proposal, Paulson

Paulson sends mortgage plan to Capitol Hill Treasury Secretary Henry Paulson has presented his historic mortgage rescue plan to Congress and the two sides will meet throughout the day on Saturday on the details. Treasury presented the plan to Congress late Friday, a Treasury spokesman said. In an unprecedented action, Paulson said Friday that he wants to spend "hundreds of billions" of dollars

I played a lot of Texas Hold’em Poker during one of my years at university. I wasn’t the greatest player, but I made money by playing carefully and managing my bets according to the odds. There was one type of player that I always welcomed at the table–the bad bluffer. The bad bluffer was a [...]

Statement by Secretary Henry M. Paulson, Jr. on Comprehensive Approach to Market Developments FULL STREAMING VIDEO September 19, 2008 hp-1149Washington, DC-- Last night, Federal Reserve Chairman Ben Bernanke, SEC Chairman Chris Cox and I had a lengthy and productive working session with Congressional leaders. We began a substantive discussion on the need for a comprehensive approach to relieving t

Press Briefing by Dana Perino and Secretary of the Treasury Henry Paulson VIDEO PODCASTStatement by Secretary Henry M. Paulson, Jr. on Federal Reserve Actions Surrounding AIG September 16, 2008 hp-1143Washington, DC-- Treasury issued the following statement by Secretary Henry M. Paulson, Jr. on Federal Reserve actions surrounding American International Group:These are challenging times for our fin

Press Briefing by Dana Perino and Secretary of the Treasury Henry Paulson FULL STREAMING VIDEO James S. Brady Press Briefing Room 1:42 P.M. EDT. PODCAST OF THIS ARTICLEMS. PERINO: Good afternoon. Obviously, one of the biggest stories of the day is what's happening in our financial market. Secretary Paulson has graciously given us some of his time today -- he doesn't have an endless supply of it, s

[FYI, for the humor impaired, this post is a parody of this AP article about the LHC] Washington - It has been called the Goldilocks injection into the balance sheets of Wall Street banks–or dangerous tampering with free markets that could spell doomsday. Whatever the case, the most powerful Wall Street bailout ever created came online Sunday, [...]

On 13 July 2008, Treasury Secretary Hank Paulson promulgated his proposal for increased government power to quell market angst over the solvency, liquidity, and credit of the mortgage securitization giants, Fannie Mae and Freddie Mac. It was the shot heard ’round the world–a self-inflicted shot to the head, that is. Paulson’s plan allowed expanded lending [...]

Well, we recently got an update as to just how poorly hedge funds are performing year to date. Don't get me wrong, there are of course some standout performers. But, for the most part, they are taking it on the chin. So, if you are an individual investor getting your ass handed to you in this market.... you're not alone. Even some of the best and brightest in the game are right there with you.

Everyone and their grandmother knows the armbar from mount already, but that's not the point of the post today- rather, it is more about attaining S-Mount smoothly without getting bucked off before, something I find that a lot of people have trouble with due to the inability to set up the transition.Mr. Paulson doesn't call it the S-Mount, rather, he calls it a "Japanese mount attack, because thei

Im always on the look out for great instruction videos on the Internet to share with you guys and yesterday I came across some videos by Eric Paulson on Youtube. Eric Paulson is a great martial artist who gained most of his experience from the late great Larry Hartsell, (RIP) an original student of Bruce Lee. I have uploaded two short clips which give escapes and counter submissions to the most

At a Full Committee Hearing (Systemic Risk and the Financial Markets) of the House Committee on Financial Services, Treasury Secretary Henry Paulson and Federal Reserve Board Chairman Ben Bernanke urged Congress to consolidate more power with a single regulator for the oversight of investment banks. This is the first hearing on this subject, and Congress has plans to continue the series of

WASHINGTON - US Treasury Secretary Henry Paulson said on Wednesday that the US economy was enduring 'a rough period' and warned that home foreclosures would likely remain high in the near future. The US Treasury chief said soaring crude oil prices, a widespread credit crunch and a two-year long housing market slump had taken some of the wind out of the sails of the US economy. 'The US economy is g

Will US Treasury secretary Hank Paulson beg for a delay in the inevitable series of rate hikes the Euro will see in the next two years?Paulson has started out on a trip to Frankfurt in order to have a cup of tea with ECB president Jean-Claude Trichet and declared ueberhawk German Bundesbank president Axel Weber. He will see them at separate meetings before the ECB will decide on a possible rate hi

-This is just what we need.....Treasury Secretary Paulson is urging that the Federal Reserve be given even MORE power.-The Washington D.C. region now has one of the fastest growing foreclosure rates in the entire country.-The median home price in California dropped 30% in May from a year ago.-A new study shows that the earth is experiencing 5 TIMES the number of earthquakes it did just 20 years ag

For the past few years American policy makers have been talking of a strong dollar while doing nothing to prevent the fall of the greenback to stimulate exports and reduce the national debt. You would think the markets would therefore be less and less impressed by the bull from New York and Washington. And yet over [...]

OSAKA - US Treasury Secretary Henry Paulson said on Saturday speculators were not to blame for surging oil prices, with 'all the evidence' pointing to tight supply and strong demand as the main cause.'In terms of financial investors and speculation and the role that plays, what I emphasise is that we're looking at that, we'll continue to look at that, but all the evidence points to supply and dema

    U.S. Treasury Secretary Henry M. Paulson Jr. said Sunday that there was no quick fix to high oil prices, which he called an issue of supply and demand.   Paulson said inflation in the Persian Gulf is “significant” but suggested that Gulf countries pegging their currencies to the weak dollar was not the only reason for it. [...]

US Treasury Secretary Hank Paulson arrives in the UAE today at the start of a tour of the Middle East. He is expected to reassure the government that investments from sovereign wealth funds are welcome and that the US dollar is coming off its lows. Behind the scenes he could well be battling on two [...]

“The Tent,” by Gary Paulson is a very unusual story that focuses on misuse of religion. When Steve and his father take to the road with an old army tent and a Bible stolen from a hotel room that have intentions that are anything but holy. Steve’s father decides the road to fame and fortune lies with preaching the Word of the Lord. Soon they are holding revival meetings all over the

WASHINGTON - THE worst of the US's credit crisis may have passed, Treasury Secretary Henry Paulson said, though he acknowledged rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now. In an interview on Wednesday, Mr Paulson said the turmoil that has gripped Wall Street and that took a turn for the worse again in March has eased somewhat. 'There's progress', he said. 'I think we're closer to the end of this' than to the beginning. A prolonged housing slump, a severe credit crisis and soaring energy costs have pushed the economy to the edge of a recession. To help cushion the blow, the Bush administration and Congress speedily enacted a US$168 billion (S$230.7 billion) stimulus package of tax rebates for people and tax

With Treasury Secretary Hank Paulson and Merrill's John Thain chiming in, there's now near unanimity of opinion on Wall Street: The worst of the credit crisis is over.Such comments seem outrageous given the latest batch of scary headlines from UBS, Fannie Mae, Legg Mason, Lazard, et al. But hope springs eternal on Wall Street, and the reality is the crisis in the debt markets has eased since JPMorgan's Fed-engineered purchase of Bear Stearns, which Paulson called "an inflection point." (Critics have used similar terms, but with a far different meaning.) Meanwhile, even Henry "Mr. Sunshine" Blodget is starting to come around to the idea that the housing market may be hitting bottom, thanks to an op-ed by Cyril Moulle-Berteaux, managing partner of Traxis Partners, in The Wall Street Journal

Two great techniques here today in one video:Erik Paulson shows us two different techniques in MMA to take your opponent to the ground, on his back: of both techniques:The 1-2 Bait to Double LegWhen up against someone who has been boxing for a little while, if you hit him, he'll be conditioned to hit you right back after shelling up. This is to take advantage of that response:1) Hit him with a 1-2 (jab-cross) while he shells up and immediately take a 1/2 step back. This creates enough space for your follow-up takedown.2) As soon as he comes back with a combination of his own, most likely beginning with a quick jab, slip under (good time to employ the Crazy Monkey shell or the Elbow Destruction... if you don't what those are, search for them on this site below.) and double-leg your opponent

From: Wall Street Winners Get Billion-Dollar Paydays   He reaped that bounty, probably the richest in Wall Street history, by betting against certain mortgages and complex financial products that held them. Mr. Paulson, the founder of Paulson & Company, was not the only big winner. The hedge fund managers James H. Simons and George Soros each earned almost $3 billion last year, according to an annual ranking of top hedge fund earners by Institutional Investor's Alpha magazine, which comes out Wednesday. Hedge fund managers have redefined notions of wealth in recent years. And the richest among them are redefining those notions once again. Their unprecedented and growing affluence underscores the gaping inequality between the millions of Americans facing stagnating wages

“The Voyage of the Frog,” by Gary Paulson, is the moving tale of a boy and a sailboat. When fourteen-year-old David Alspeth’s uncle dies of cancer he leaves David with two things: a sailboat, The Frog, and a commission to dump his ashes in the open sea. When David tries to carry out his uncles wishes, though, the voyage turns out to be more than he had expected. First a freak storm blows

“The Voyage of the Frog,” by Gary Paulson, is the moving tale of a boy and a sailboat. When fourteen-year-old David Alspeth’s uncle dies of cancer he leaves David with two things: a sailboat, The Frog, and a commission to dump his ashes in the open sea. When David tries to carry out his uncles wishes, though, the voyage turns out to be more than he had expected. First a freak storm blows

“The Rifle,” by Gary Paulson is a fascinating book that explores the life of a historical rifle while emphasizing an important message: “Guns don‘t kill people, people kill people.” Primarily “The Rifle” is the story of a gun that kills a child. In exploring this fragile and emotional theme Paulson uses a very interesting technique. He develops the story of both the gun and the child on two

“The Rifle,” by Gary Paulson is a fascinating book that explores the life of a historical rifle while emphasizing an important message: “Guns don‘t kill people, people kill people.” Primarily “The Rifle” is the story of a gun that kills a child. In exploring this fragile and emotional theme Paulson uses a very interesting technique. He develops the story of both the gun and the child on two

Usd continued its choppy trading pattern in Asian session regaining some of it loses to the Eur. Aud, Nzd and Cad performed well in line with stronger commodity prices and weaker Usd. Recently the greenback has been hightly reactive to the price of crude as well as shifting interest rate expectations. Currently the market is split between 25bp & 50bp cut. Whether this will represent the final cut to a dramatic easing cycle is still a moot question. We are currently leaning to a 50bp cut but could easily shift with the release of ISM – non manufacturing data and payrolls figures.Yesterday Bernanke testified to the Joint Economic Committee. He acknowledged that the economy "will not grow much, if at all, over the first half of 2008 and could even contract slightly" but steere

By David J. Lynch, Sue Kirchhoff and Adam Shell, USA TODAYThe Federal Reserve's role in monitoring the health of financial institutions would dramatically expand under a plan the Bush administration unveiled Monday to overhaul regulatory oversight.The plan — which critics said was sure to be modified by Congress — capped a year-long process that began with a desire to help U.S. financial players compete globally by streamlining their oversight and ended amid fear of a meltdown fed by lax regulation.FULL REPORT: Blueprint for a modernized financial regulatory structure (pdf) TEXT OF SPEECH: 'We can do a better job' of regulating, Paulson saysTreasury Secretary Henry Paulson, who unveiled the 218-page blueprint for reform, acknowledged that the far-reaching proposal represents just the s

By David J. Lynch, Sue Kirchhoff and Adam Shell, USA TODAYThe Federal Reserve's role in monitoring the health of financial institutions would dramatically expand under a plan the Bush administration unveiled Monday to overhaul regulatory oversight.The plan — which critics said was sure to be modified by Congress — capped a year-long process that began with a desire to help U.S. financial players compete globally by streamlining their oversight and ended amid fear of a meltdown fed by lax regulation.FULL REPORT: Blueprint for a modernized financial regulatory structure (pdf) TEXT OF SPEECH: 'We can do a better job' of regulating, Paulson saysTreasury Secretary Henry Paulson, who unveiled the 218-page blueprint for reform, acknowledged that the far-reaching proposal represents just the s

Remarks by Secretary Henry M. Paulson, Jr. on Blueprint for Regulatory Reform FULL STREAMUNG VIDEOLINKS in PDF FormatPress ReleaseReportFact SheetWashington, DC--Good morning, everyone. A strong financial system is vitally important - not for Wall Street, not for bankers, but for working Americans. When our markets work, people throughout our economy benefit – Americans seeking to buy a car or buy a home, families borrowing to pay for college, innovators borrowing on the strength of a good idea for a new product or technology, and businesses financing investments that create new jobs. And when our financial system is under stress, millions of working Americans bear the consequences. Government has a responsibility to make sure our financial system is regulated effectively. And in this ar

From the WSJ Washington Wire Blog today:  Sen. Barack Obama described the Bush administration’s sweeping changes to financial market regulation as “inadequate” on Saturday. While noting that he had not yet seen the full proposal, which Treasury Secretary Henry Paulson will unveil on Monday, the Illinois senator said that, based upon news reports, he believed the proposed regulatory reforms didn’t go far enough, though he lauded the proposed consolidation of regulatory agencies. Obama laid out his own proposals to boost regulation of the financial industry during a speech in lower Manhattan earlier this week. Speaking to reporters in Johnstown, Pa., on Saturday, he criticized the lack of any increased capital reserve requirements for investment banks, which can

Bain’s and THL’s Official Sponsor Complaint Press Release - Courtesy of The Deal - Sounds like the banks are backed into a corner on this one. "U.S. Treasury Secretary Henry Paulson plans on Monday to call for sweeping structural changes in the way the government monitors financial markets, capping a broad review aimed at revamping a system of regulatory oversight built piecemeal since the Civil War." - The Prince can’t help but say I told you so.               The Executive Summary of Paulson’s report - The plan looks to merge some agencies and broaden the authority of the Fed. Interview with Paulson by the WSJ Today - Mortgage origination commission?  Really?                

"At least the U.S. economy has started to look more like a soap opera and less like a Greek tragedy this week. Maybe we can get out of the current market situation without having to watch every player die a bloody, violent death, afterall… or maybe not. Either way, I’d bring a an umbrella to [...]

"Senators, representatives and presidential candidates have been busy calling for more government oversight of the financial industry. And maybe Congress will settle on Paulson's idea as its "savior" in the current camera-mugging opportunity. It could actually save money and provide a simpler system for companies trying to follow the ornate business laws already in place in the U.S." -- Stephanie Grimmett by Stephanie Grimmett Baltimore — (TFN): Oh, good, I…

Paulson To Propose Broad Overhaul Of U.S. Financial RegulationFederal Reserve will get broad new powers to be primary markets stabilizer. Link - Sat, 29 Mar 2008 07:17:05 GMT - Feed (2 subs) Sent using SendMeRss.com. Visit here to unsubscribe from "2-business" via X2 in Google. Recommended Feeds/Actions Subscribe MSNBC.com: Politics

U.S. Treasury Secretary Henry Paulson said on Friday that an economic stimulus program that will put $168 billion into consumers’ hands this year and next could help create hundreds of thousands of new jobs.”We know they’re going to be helpful,” Paulson said on CNN television. “These (tax rebate) checks should be a big part of [...]

In 1968, there was a sad little man on the popular TV show "Laugh In" who ran for president. His name was Pat Paulsen. He probably did not get any votes.... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

“Hatchet” by Gary Paulson is a Newberry Honor Award survival story. Usually I find survival stories to be unrealistic and almost ridiculous, yet Paulson has defined a plot that is both satisfying and very true to life. The story’s main character is Brian, a young teen with divorced parents. His father works in Alaska. While flying to visit his father for the summer, the plane’s pilot has a

“Hatchet” by Gary Paulson is a Newberry Honor Award survival story. Usually I find survival stories to be unrealistic and almost ridiculous, yet Paulson has defined a plot that is both satisfying and very true to life. The story’s main character is Brian, a young teen with divorced parents. His father works in Alaska. While flying to visit his father for the summer, the plane’s pilot has a

Treasury Secretary Henry Paulson agrees with both the Bush Administration (of which he is a part) and Republication presumptive nominee John McCain that the government should stay out of the housing market and let the market dictate where prices will fall. From an L.A. Times article:Housing prices need to fall further to permit shell-shocked housing markets to stabilize and policy-makers should not interfere with that process, Treasury Secretary Henry Paulson said on Wednesday..."A correction was inevitable and the sooner we work through it, with a minimum of disorder, the sooner we will see home values stabilize, more buyers return to the housing market, and housing will again contribute to economic growth," he said. Despite calls to "do something about housing," the focus should be on

The US Treasury Secretary gave warning today that there is more pain ahead in the American housing market after he said prices must be allowed to drop before the economy can stabilise.It emerged yesterday that house prices in 20 US cities had declined by 10.7 per cent in the 12 months to January — the worst fall in more than 20 years.

According to CNBC: Treasury Secretary Henry Paulson said Wednesday that housing prices need to be allowed to continue to drop while every effort is made to ensure the adjustment does not cause excessive harm to the economy. “A correction was inevitable and the sooner we work through it, with a minimum of disorder, the sooner we will [...]

Statement by Secretary Henry M. Paulson, Jr. on the 2008 Social Security and Medicare Trust Fund Reports. FULL STREAMING VIDEO. Reports from the Board of Trustees - Status of the Social Security and Medicare Program. also available in Adobe PDF FORMATWashington--The Social Security and Medicare Boards of Trustees met this afternoon to complete their annual financial review of the programs and to transmit the Trustees Reports to Congress. I welcome my Cabinet colleagues.For decades, Social Security and Medicare have provided vital support for millions of Americans. As the baby boom generation moves into retirement, these programs face progressively larger financial challenges. If we do not take action soon to reform Social Security and Medicare, the coming demographic bulge will jeopardiz

You know things are very very bad on Wall Street when a guy like Henry Paulson -- Treasury secretary, solid Republican, and former Goldman Sachs CEO -- joins the crowd calling for more regulation over the financial markets.   Paulson spared no one in his criticism Thursday of the excesses of deregulation that has now created the worst global financial crisis in a generation, threatening the health of the U.S. economy, the savings of millions of Americans, and the survival of some of the biggest financial institutions in the world. See full story.   Wall Street and Washington both failed big time, he said. Wall Street invented new ways to make money by selling securities so complicated that no one could really follow which shell the pea was under. Fortunes were made on

Major sovereign funds from Singapore and Abu Dhabi have agreed to Boy Scout rules about keeping their investments in the US strictly financial. No political... [[ This is a content summary only. Visit my website for full links, other content, and more! ]]

Story courtesy of the Associated Press:   WASHINGTON - The Bush administration will "do what it takes" to stabilize chaotic markets and minimize the economic damage, Treasury Secretary Henry Paulson said Sunday after a tumultuous week capped by the government rescue of a teetering investment bank. All eyes now are on Wall Street as leading financial advisers prepared [...]

This morning, Bloomberg interviewed commodities investor Jim Rogers from Singapore (Bloomberg video link here). The chairman of Rogers Holdings spoke with Bloomberg’s Rishaad Salamat over the telephone about the U.S. Federal Reserve’s actions to calm financial markets, JPMorgan Chase’s buyout of Bear Stearns for $240 million, and his investment strategy. While I talked [...]

WASHINGTON (Thomson Financial) - US Treasury Secretary Henry Paulson said today he still believes the long-term economic outlook for the US is still good, even as he acknowledged that turmoil in the housing market continues to pose the largest downside risk to the economy.Paulson also reiterated that the government is doing what it believes is best to help people avoid foreclosures, which is to encourage lenders to modify and rework loans for struggling borrowers who want to stay in their homes.This is where I and IGS can help you by negotiating with your lender to modify your loan to get a payment you can afford. I encourage you to call your lender and experience the frustration of dealing with them then give me a call we'll handle all the work for you to get that modification!Read the en

From ForbesXIANGHE, China (XFN-ASIA) - The further revaluation of China's currency could help drive forward the reform of China's economy, said US Treasury Secretary Henry Paulson, speaking at the end of the Strategic Economic Dialogue.'China has an economy that is built around exports and investing heavily in export industries, and relatively low levels of domestic consumption,' Paulson told reporters.'It is going to take a while to deal with these fundamental structural issues, and we focus on the renminbi issue because that in many ways is a proxy for reform.'He said that the Chinese economic 'miracle' was an 'anomaly', and that China has now become a big presence on the international market without fully opening up its economy.'It is difficult to have a market-driven economy if you don't have real market signals,' he said. 'If you have a currency that doesn't reflect fundamental economics it is difficult. The Chinese understand and appreciate this.'Although Paulson

"You got to know when to hold 'em, know when to fold 'em, know when to walk away and know when to run'. So wrote Kenny Rogers in 'The Gambler'. One who mastered the art of that this year in the hedge fund industry was John Paulson. Mr Paulson went out last year and raised $1bn for a dedicated fund to short the sub prime market 18 months on, across all of his funds, it is estimated that profits

Connecticut Democrat Chris Dodd has realized one thing, the NY Times still runs the agenda for his party. Dodd, realizing 99% of American's not only do not know who he is but also do not know he is running for President, found a way to get himself some publicity today. He decided to question the integrity of someone most American's do know: Treasury Secretary Hank Paulson. On a side note, if more folks know who the head guy at Treasury is than know who you are, and you are running for... Continued at Todd Sullivan's ValuePlays

The stock market quickly pared losses this morning as Treasury Secretary Henry Paulson said the plan to freeze some interest rates is part of a "pragmatic response" to reality as the economy faces the worst housing pullback in more than 20 years. His confidence that an agreement will soon emerge to help thousands of homeowners avoid mortgage defaults by temporarily holding their interest rates steady stemmed the losses this morning, though I don't know how long it will hold without more positive news. One bit of news that many inves

In Sunday’s Financial Times (UK), former U.S. Treasury Secretary Lawrence Summers said that the odds now favor a U.S. recession that will slow growth significantly on a global basis. Summers, who served with the Clinton administration and now teaches at Harvard University in addition to serving as a managing director at hedge fund D.E. Shaw Group, concluded that the U.S. economy will stall out, based on the following: 1. The U.S. housing slump marches on. Several streams of data indicate how much more serious the situation is than was clear a few months ago. First, forward-looking indicators suggest that the housing sector may be in free-fall from what felt like the basement levels of a few months ago. Single family home construction may be down over the next year by as much as half from previous peak levels. There are forecasts implied by at least one property derivatives market indicating that nationwide house prices could fall from their previous peaks by as much as 25 per cent ov

I remember not too long ago, U.S. Treasury Secretary Henry Paulson kept saying that housing was bottoming. Paulson and the entire Bush’s economic team were out on TV talking about how resilient our economy is and how housing had turned the corner. Apparently, he now feels just like the rest of the country and he is finally admitting that housing is going to get much worse in 2008. It seems like his campaign to hide the truth and keep everybody calm has not succeeded and he has decided to face the problem instead of just hiding it. CNBC reports U.S. Treasury Secretary Henry Paulson said the number of potential U.S. home-loan defaults “will be significantly bigger” in 2008 than in 2007, the Wall Street Journal’s online edition reported. “The nature of the problem will be significantly bigger next year because 2006 (mortgages) had lower underwriting standards, no amortization, and no down payments,” Paulson said in an interview with the Wall Street J

What an absurdity, seems like dam near everybody and they mama is broke now days. {read more} Jigga will be featured on the cover of Rolling Stone once again (preview the article here & watch the, behind the scenes here), and related to the economic article above, Jay-Z is now opting out of getting paid with US Dollars in place of the Euro, as seen in the video for ‘BlueMagic‘. The first Image of Louis Leterrier’s “The Incredible Hulk” staring Edward Norton as Bruce Banner, that hits theaters on June 13th 2008 has been revealed. He definitely looks more accurate this time around… Mos Def has his eyes on Kanye for help on his next studio album. {read more} I case you needed another reason to not buy an Iphone, the revolutionary device can apparently can be turned into a bug, and with a few commands can be accessed entirely remotely! {read & watch more} Have you seen the December cover of Essence yet? Cottdam… {Bigger Image} Louis Vu

In yet another attempt to put pressure on China to revalue the RMB, Secretary Paulson is out on his stump.. and I am beginning to wonder if perhaps he is off his rocker as I hardly see how rising interest rates in the U.S. (see below) is going to improve the situation in the States…. Correct me if I am wrong, but putting pressure on China to “appropriately value” the RMB could lead lead to higher interest rates and inflation in the US should they actually take his advice and knock the RMB to say 6.50USD …. and with the U.S. economy teetering on a recession driven by an inability of people to pay back their debt.. After all, the mear suggestion that China was looking at diversifying their portfolio away from “weaker curriencies” (USD) into “stronger curriencies” (Euro, Yen… Peso) sent the dollar reeling to all time low against Euro and a couple of other currencies. Follow my posts Would 6RMB/ USD Be A Good Thing?: Part 1 and Woul

Treasury Secretary calls on mortgage lenders to do more to identify borrowers in danger of default; urges flexibility.October 31 2007: 7:08 PM EDTWASHINGTON (AP) -- Treasury Secretary Henry Paulson urged the mortgage industry on Wednesday to do more to identify and help people who risk losing their homes because their monthly mortgage payments are resetting to higher levels.Paulson said one promising initiative was a mass mailing lenders participating in the Hope Now alliance are planning to use to let people know where they can get help.The new letters will start going out on Nov. 19. He said the effort involves two stages - "first, making contact with a borrower who is in trouble and, second, determining if there is an affordable mortgage product for that borrower and taking action."More than 1 million people could be in danger of losing their homes over the next two years as their initial low introductory adjustable rate mortgages reset to much higher rates.After a meeting at Treasu

Oct. 29 -- U.S. Treasury Secretary Henry Paulson said measures introduced by India's market regulator to slow capital flows from overseas may inhibit efficiency. ``Administrative restrictions of capital flows are blunt instruments and can have unintended consequences,'' Paulson said at a conference in Mumbai today. ``They tend to inhibit inefficiency and lose their effectiveness over time.''

Treasury prices closed higher Tuesday after Federal Reserve Chairman Ben Bernanke and Treasury Secretary Henry Paulson both warned of continuing economic weakness linked to housing and credit problems.Paulson said Tuesday the contraction in residential real estate has gone on longer than expected and will hurt the economy and markets for months to come. He described housing as the "most significant" risk to the economy.Bernanke late Monday warned that a deepening housing slump probably will put a "significant drag" on economic growth into next year. He also said it will take time for Wall Street to fully recover from the recent credit crisis.However, Bernanke also pledged to "act as needed" to help financial markets function smoothly and keep the economy and inflation on an even keel. That remark suggests the Fed could soon deliver the rate cut the market wants, but it was hardly a promise."I think that people of the opinion that there will be no rate cut at the October meeting could c

BusinessWeek has a fascinating account of some savvy investing which straddles the twilight zone between investor foresight and influencing events on the ground to favor your bet. "Paulson & Co., which has seen its assets under management soar this year through fortuitous bets in the subprime market, has given $15 million to the Center for Responsible Lending, a Washington nonprofit that has been

Just remember what our Treasury Secretary Hank Paulson said today about the subprime debacle - it will be "largely contained". That was enough to send the Dow surging more than 100 points off the lows of the day.This is a 'MUST READ': NakedShorts: Podcast: Henry Paulson, contained. Greg has outdone himself.

Henry Paulson JR is the United States Treasury Secretary. Paulson has been serving as Treasury Secretary since May 30, 2006. In addition, Paulson serves as a member of the the International Monetary Fund (IMF) Board of Governors. Before becoming Treasury Secretary, Paulson served as CEO and Chairman of Goldman Sachs. Goldman Sachs is one of the most successful and prestigious global investment

Henry Paulson JR is the United States Treasury Secretary. Paulson has been serving as Treasury Secretary since May 30, 2006. In addition, Paulson serves as a member of the the International Monetary Fund (IMF) Board of Governors. Before becoming Treasury Secretary, Paulson served as CEO and Chairman of Goldman Sachs. Goldman Sachs is one of the most successful and prestigious global investment

Secretary Henry Paulson Department of the Treasury 1500 Pennsylvania Ave. Washington, DC 20220 May 11, 2007 Secretary Paulson, I am contacting you in light of the document sent to me dated May 2, 2007, which was received May 7, 2007 indicating that an investigation has been opened up with regards to a trip I took to Cuba with a group of Americans that included some 9/11 heroes in March 2007 related to the filming of my next documentary, on the American Healthcare system. SiCKO, which will be seen in theaters this summer, will expose the health care industry’s greed and control over America’s political processes. I believe that the decision to conduct this investigation represents the latest example of the Bush Administration abusing the federal government for raw, crass, political purposes. Over the last seven years of the Bush Presidency, we have seen the abuse of government to promote a political agenda designed to benefit the conservative base of the Republican Party, s

From CBC News SHANGHAI (AP) - When U.S. Treasury Secretary Henry Paulson makes a pitch Thursday for China to drop barriers to trade, he'll be doing so from the gleaming Shanghai Futures Exchange, where only a handful of commodity futures are traded, by local brokers.The setting illustrates the progress and limitations in China's ambitions become a world financial power. Just last week, the country's growing heft in international markets hit home when a nine per cent drop in Shanghai triggered declines around the globe.But China needs to do far more to open its financial sector and underdeveloped capital markets, for the sake of its own well-being and global stability, Paulson said in comments in Tokyo this week.Paulson met Wednesday in Beijing with Chinese Vice-Premier Wu Yi, a former trade minister, China's most powerful woman and a key point person for dealings with Washington.Paulson did not make any public comments in Beijing, but in Tokyo on Tuesday he told Japanese officials

Senator Hagel's office put out this press release yesterday:Hagel Praises Paulson Remarks on Excessive RegulationNovember 20th, 2006 - WASHINGTON, D.C. - U.S. Senator Chuck Hagel (R-NE), a member of the Senate Banking Committee, released the following statement today regarding remarks given by Treasury Secretary Henry Paulson to the Economic Club of New York warning against excessive regulation in capital markets:"Secretary Paulson's remarks today warning against excessive regulation shows a critical understanding of what will be required for America to remain competitive in the 21st Century. One of the most important requirements for a company in today's modern economy is access to capital through the financial markets."We can't let the cost of doing business in the U.S. become so onerous and burdensome that we drive investors and capital offshore. Our markets are the best in the world. We need to make sure the world continues to have confidence in our markets. But there ar