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?
Trump's new look at civil rights and global warming President Trump is reportedly ready to pull the US out of the Paris Agreement on Climate Change. We look at the possible consequences. On the second half of the program, we hear about cuts in Obama-Era civil rights programs called for by the Trump Administration's first budget plan.
Who's to blame for the opioid crisis? Some of the lawyers who took on Big Tobacco are now going after Big Pharma. It’s all about the deadly epidemic of opioid use. Are the drug companies to blame? What about the users? Later, on today’s Talking Point: making sense of Britain’s upset election.
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.