Henry Paulson – News Stories About Henry Paulson - Page 11

Jan 8, 2008 12:25 PM CST

Pending Home Sales Take Giant Plunge

Experts recommend buying a house immediately

(Newser) - Pending home sales fell 2.6% in November from a revised 3.7% October gain, Bloomberg reports, far outstripping the 0.7% fall analysts predicted after an originally reported 0.6% October gain. The figures support Henry Paulson’s gloomy outlook on the housing market. “There is no evidence...

Paulson Calls for More Housing Relief

Jan 7, 2008 9:17 PM CST

Paulson Calls for More Housing Relief

Treasury secretary suggests aid for prime-rate borrowers

(Newser) - Treasury Secretary Henry Paulson advised the mortgage industry today to give help to millions of financially stressed homeowners whose mortgages are set to rise. His comments signal that the Bush administration is starting to push lenders to expand relief beyond subprime borrowers to homeowners with other adjustable-rate loans, reports the...

China OKs
US Health Inspections

Dec 11, 2007 10:08 AM CST

China OKs US Health Inspections

Beijing renews objections to 'hyped' product safety concerns

(Newser) - China will allow US health inspectors to monitor the country’s food and drug exports, the Washington Post reports, a big concession in heated high-level trade talks. China accuses the US media of tarnishing its reputation by overblowing safety concerns, and has in turn questioned US exports. China is the...

China Looks
to Buy American

Dec 10, 2007 7:27 PM CST

China Looks to Buy American

Seeks investments to adjust yuan growth; US official set for talks

(Newser) - China, increasingly being called upon to more rapidly adjust the growth of the yuan against the dollar, is looking to expand its investment in US assets as a way to funnel its powerhouse currency out of the country, Bloomberg reports today. Treasury Secretary Henry Paulson visits Beijing Wednesday for a...

Bush Mortgage Plan Arrives

Dec 6, 2007 3:01 PM CST

Bush Mortgage Plan Arrives

1.2M homes at risk in crisis could be saved, he says; critics charge it's not enough

(Newser) - The White House today released its plan to help homeowners threatened by the subprime crisis, asserting 1.2 million could be helped—but only 240,000 of 2.2 million rate resets due next year are covered, CNN reports. The five-year interest rate freeze doesn’t apply to borrowers 30...

Bush to Offer Mortgage Freeze

Dec 5, 2007 1:07 PM CST

Bush to Offer Mortgage Freeze

Plan would help homeowners facing rate increases

(Newser) - President Bush will detail tomorrow the Treasury Department's plan to hold interest rates steady for subprime borrowers at risk of defaulting on their mortgages when rates rise, Reuters reports. The plan, negotiated with mortgages lenders and investors, would freeze for five years adjustable loans due to jump to higher rates...

Treasury Secretary
Won't Jump
to Citigroup

Dec 5, 2007 4:38 AM CST

Treasury Secretary Won't Jump to Citigroup

Paulson says he'll stick it out with Bush

(Newser) - Treasury Secretary Hank Paulson will stick it out until the end of the Bush presidency and won't jump to Citigroup, the Financial Times reports. His name had been mentioned in connection with the vacant top spot at Citigroup and investors are likely to be disappointed that he has ruled himself...

Financials Drag Dow Down

MARKETS

Dec 3, 2007 3:38 PM CST

Financials Drag Dow Down

Good vibes on mortgage deals steady markets

(Newser) - Bad news in the financial sector today meant the first bearish day for the market in five sessions, as Deutsche Bank’s negative prediction for fourth-quarter earnings pushed Morgan Stanley, Merrill Lynch, and Lehman Brothers downward. The Dow fell 57.15 to 13,314.57, the Nasdaq slid 23.83...

J'Accuse

OPINION

Dec 3, 2007 7:53 AM CST

J'Accuse

Ben Stein accuses Goldman Sachs, and its former CEO Henry Paulson, of peddling mortgage securities while betting on, and abetting, their collapse

(Newser) - In an extraordinary New York Times column Republican/libertarian economist, writer, actor, and lawyer Ben Stein accuses Goldman Sachs of being a willing participant in, and even plotting, the collapse of value in the collateralized mortgage obligation (CMO) market. In the last several years Goldman sold $100 billion of the instruments...

Mortgage-Rate Freeze Draws Backlash

Dec 1, 2007 11:51 AM CST

Mortgage-Rate Freeze Draws Backlash

Plan to give borrowers a break called 'morally repugnant'

(Newser) - Not everyone is applauding Treasury Secretary Hank Paulson's plan to freeze adjustable mortgage rates on distressed home loans to help contain the spreading subprime crisis. Some analysts think the plan will only postpone foreclosures, rather than preventing them. And now that loans are bundled and sold to investors, some of...

Plan to Freeze Subprime Loans

Nov 30, 2007 3:12 AM CST

Plan to Freeze Subprime Loans

Treasury and lenders close to deal

(Newser) - The Treasury Department and a coalition of lenders are close to a deal to freeze interest rates on some subprime loans in a bid to bring the mushrooming mortgage crisis under control, reports the Wall Street Journal. A freeze would ease the burden on beleaguered borrowers and banks. Rates on...

WH Pares
2008 Economic Forecast, Hikes Jobless Rate

Nov 29, 2007 12:30 PM CST

WH Pares 2008 Economic Forecast, Hikes Jobless Rate

Housing decline 'more significant' than thought

(Newser) - The White House cut back its expectations for 2008 economic growth today and said unemployment rates are likely to worsen, citing the housing slump. GDP will grow only by 2.7% next year, down from an earlier 3.1%, said officials from Treasury and the Council of Economic Advisers; and...

White House Economic Guru Stepping Down

Nov 28, 2007 8:13 AM CST

White House Economic Guru Stepping Down

Al Hubbard departure said to strengthen Paulson's hand

(Newser) - Top White House economics adviser Al Hubbard will step down by year's end, the AP reports. Hubbard, who has expressed frustration over his inability to get Bush economic initiatives through the Democrat-controlled Congress, will be replaced by deputy Keith Hennessy. Hubbard's departure will boost the influence of less ideological, more...

China's Trade Surplus Hits $27B

Nov 12, 2007 9:40 AM CST

China's Trade Surplus Hits $27B

Exports continue to outpace import growth

(Newser) - China's trade surplus rose to a record $27.05 billion last month, up 13.5% over last year despite a 25.5% balloon in imports, Bloomberg reports. The number lagged forecasts, raising the possibility that new trade policies are gaining traction, Reuters reports. US and EU officials will travel to...

Big Banks Settle on Superfund Terms

Nov 11, 2007 12:49 PM CST

Big Banks Settle on Superfund Terms

Paulson says fund will help, but analysts bearish on its prospects

(Newser) - The country’s top three banks have finalized agreements for the $75 billion superfund they hope will cushion further blows to the credit market, reports the NY Times. After nearly two months of haggling, Bank of America, Citigroup, and JPMorgan Chase agreed to simpler conditions than outlined in the fund’...

Countrywide to Refinance Risky Home Loans

Oct 23, 2007 5:38 PM CDT

Countrywide to Refinance Risky Home Loans

About 80,000 subprime borrowers will get lower rates from the $16B plan

(Newser) - Countrywide, the nation's largest mortgage lender, will refinance $16 billion worth of subprime home loans. The move will allow 80,000 customers with adjustable-rate mortgages to get lower rates, making it more likely that they'll keep their homes. Countrywide will make less money from the new arrangement, but fewer mortgages...

Paulson: Economy in Danger

Oct 16, 2007 12:40 PM CDT

Paulson: Economy in Danger

(Newser) - The ongoing housing implosion poses “a significant risk” to the economy, Treasury Secretary Henry Paulson said in a speech at Georgetown University today, in a sobering about-face from earlier attempts to downplay the crisis. “The ongoing housing correction is not ending as quickly as it appeared,” he...

$100B Bank Fund Shows Paulson's Touch

Oct 16, 2007 7:29 AM CDT

$100B Bank Fund Shows Paulson's Touch

Treasury sec works behind scenes to shore up mortgage market

(Newser) - This weekend's bank deal to establish a $100-billion "superconduit" fund to buy back shaky mortgage securities showed the hand—and the strategy—of Hank Paulson, the New York Times reports. Though the treasury secretary has said for months he's confident investors can handle the mortgage credit crisis themselves, he...

China to Bar Foreigners
From Owning Brokerages

Oct 3, 2007 10:59 AM CDT

China to Bar Foreigners From Owning Brokerages

Western banks will have to settle for 20%

(Newser) - China's stock markets are booming, with 47 million new trading accounts opening this year, but foreign banks eager to cash in on the expansion will be frustrated: Beijing is about to introduce new rules prohibiting foreign investors from acquiring more than 20% of any Chinese brokerage, Bloomberg writes.

Social Security Fund Faces $13.6 Trillion Shortfall

Sep 25, 2007 4:27 AM CDT

Social Security Fund Faces $13.6 Trillion Shortfall

Only taxes or slashed benefits can save program

(Newser) - Slashing benefits or hiking taxes—or both—is the only way to make the Social Security system solvent, reports a Treasury Department briefing paper. Treasury Secretary Henry Paulson warned that faster economic growth alone won't solve the money problems of Social Security, which faces a $13.6 trillion shortfall in...