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Henry Paulson to become overseer of American economy?(Inside Track)(Brief article)
The New American
|
October 13, 2008 |
COPYRIGHT 2008 American Opinion Publishing, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright
Treasury Secretary Henry Paulson is on the verge of becoming the most influential man to hold that post since Alexander Hamilton, and the most powerful Secretary of the Treasury in U.S. history, if the massive $700 billion bailout legislation being contemplated in Congress is passed.
In the words of the Christian Science Monitor, the legislation "would transform Paulson's office into that of temporary overseer of America's entire financial system" with "the power to buy virtually any financial instrument from any institution, as a means to relieve it of bad assets and pump credit back into the economy." It is hard to imagine that even Alexander Hamilton, who was something of a supporter of big government relative to most of the other Founding Fathers, would support such a ...
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Source: HighBeam Research, Henry Paulson to become overseer of American economy?(Inside...