FROM Anil Kashyap
One Year after the Wall Street Meltdown Henry Paulson had been the CEO of Goldman Sachs, a Republican and a free marketeer. But as George W. Bush's reluctant Treasury Secretary, he engineered the biggest government intervention of modern times. During 15 months of the financial meltdown and the $700 billion Wall Street bailout, he sat for eight hours of taped interviews with Todd Purdom, whose " Confessions of Henry Paulson " are in this month's issue of Vanity Fair magazine.
One Year after the Wall Street Meltdown Henry Paulson had been the CEO of Goldman Sachs, a Republican and a free marketeer. But as George W. Bush's reluctant Treasury Secretary, he engineered the biggest government intervention of modern times. Barack Obama promised big change, but he picked as Treasury Secretary, Timothy Geithner, who also played a key role in the Bush Administration's Wall Street bailout. More institutions than ever are "too big to fail" and, while the President's warned against excess risk, he has not said they wouldn't be bailed out again. The new regulations he has proposed may have trouble in Congress, which is gearing up for another election year. The TARP and the federal stimulus might have saved the economy, but what's been done to prevent another recession as bad as the one we're in now?
The Global Consequences of America's Financial Crisis The Wall Street rescue failed in the House. Now the Senate will take up a similar bill tonight, with support from John McCain , Barack Obama and Joe Biden . Some advocates are saying the pros and cons of specific provisions are not what matters. The real issue is restoration of confidence in the financial system. Meantime, banks are in trouble in Britain, France, Belgium, the Netherlands—Ireland and Iceland, and leaders are saying the US has a special responsibility to act and act now. Would foreign banks get part of the bailout money? What about countries which buy American debt, including Russia and China? Is America's financial leadership what's really at stake?
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
What is Trump's plan for Middle East peace? On his first foreign tour, President Trump has promised "peace" between Israel and the Palestinians. Are there any details for re-starting talks that have been stalled for the past three years?
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.