Outgoing Treasury Secretary Paulson has suggested that Congress should replace Fannie Mae and Freddie Mac with one or two private-sector entities. Those entities would purchase and securitize mortgages with a credit guarantee backed by the federal government, and would not have investment portfolios...
Treasury Secretary Henry Paulson confirmed today that the White House has requested the remaining $350 Billion in TARP funds on behalf of the Obama administration. Paulson's remarks confirmed earlier one's made by George W. Bush in his final press conference as president. In an interview with...
The best option for Fannie Mae and Freddie Mac may be to convert them into public, utility-like organizations that would not hold any investment portfolio, U.S. Treasury Secretary Henry Paulson said on Wednesday. Speaking at the Economic Club of Washington, Paulson said returning Fannie Mae and Freddie...
Treasury Secretary Henry Paulson said the government has had to face the current financial crisis without all the means to do so effectively, the Financial Times reported on Tuesday. "We're dealing with something that is really historic and we haven't had a playbook," Paulson said in...
With the U.S. government promising a total of $17.4 billion to General Motors and Chrysler, U.S. Treasury Secretary Henry Paulson has officially requested the second half of the $700 billion TARP funds from the U.S. Congress. The move comes despite a wave of unpopularity for the outgoing Treasury Secretary...
After a gruelling several weeks, the U.S. government announced Friday it will extend short-term funding to General Motors and Chrysler , allotting $13.4 billion in immediate funding to the two automakers and an additional $4.0 billion contingent on the delivery of the second tranche of the TARP. "For...
Treasury Secretary Henry Paulson said on Monday the Treasury is developing new programs under the Troubled Asset Relief Program (TARP) and that he's confident the Treasury is pursuing the right strategy. "We are actively engaged in developing additional programs to strengthen our financial system...
Treasury Secretary Henry Paulson said that additional measures announced by the Federal Reserve and Treasury Tuesday morning are aimed at aiding the U.S. housing market and restoring affordable bank lending to consumers and small businesses. It was announced earlier that the Treasury will provide $20...
Treasury Secretary Henry Paulson said on Thursday the Treasury's priority is restoring stability and repairing capital markets, but that market recovery will take some time. He urged further efforts to find solutions that aren't reckless. "Clearly with the market stresses continuing, maintaining...
The $700 billion Troubled Asset Relief Program (TARP) was designed to stabilize the financial system and improve lending liquidity, and "is not a panacea for all our economic difficulties" said U.S. Treasury Secretary Henry Paulson on Tuesday. "The rescue package was not intended to be...