U.S. to buy shares in banks

Oct. 10, 2008

Treasury secretary says the move, previously rejected, is now needed to inject cash into the financial system. Treasury Secretary Henry M. Paulson said today that the Bush administration would buy stakes in banks and other financial institutions to help ease the economic crisis.

Paulson praises SED

BEIJING, Dec. 4 (UPI) -- Treasury Secretary Henry Paulson Jr., speaking in Beijing Thursday praised the accomplishments of the U.S.-China Strategic Economic Dialogue.

Bailout to get first official critique

WASHINGTON, Dec. 2 (UPI) -- One of three oversight mechanisms for the $700 billion Emergency Economic Stability Act kicks into action in Washington Tuesday.

Paulson: No magic bullet for the economy

WASHINGTON, Nov. 25 (UPI) -- U.S. Treasury Secretary Henry Paulson said there's no magic bullet to fix the economy and it is naive to assume one piece of legislation could do so.

Personality Spotlight: Lawrence Summers

WASHINGTON, Nov. 24 (UPI) -- Former Treasury Secretary Lawrence Summers will tap experience in shaping world economic polices in his new White House role.

Bush hails Citigroup bailout

WASHINGTON, Nov. 24 (UPI) -- U.S. President George Bush Monday hailed the decision to shore up Citigroup as a "first step toward economic recovery."

Insurers seeking banks for bailout funds

WASHINGTON, Nov. 21 (UPI) -- Insurance companies buying banks to qualify for a share of the $700 billion U.S. bailout program have no guarantee the strategy will work, the Treasury said.

Paulson cool to auto company help

WASHINGTON, Nov. 18 (UPI) -- U.S. Treasury Secretary Henry Paulson urged Congress to modify already-passed legislation to help the auto companies rather than expect him to buy stock.

Paulson accused of 'bait-and-switch'

WASHINGTON, Nov. 18 (UPI) -- U.S. Rep. Gary Ackerman, D-N.Y., accused Treasury Secretary Henry Paulson of a "bait-and-switch scheme" by changing plans for stabilizing the economy.

Paulson says recovery will take time

WASHINGTON, Nov. 18 (UPI) -- U.S. Treasury Secretary Henry Paulson Jr. told members of Congress Tuesday to look beyond Wall Street to find the effects of the financial bailout.

Kanjorski compares Paulson to Hoover

WASHINGTON, Nov. 18 (UPI) -- U.S. Rep. Paul Kanjorski, D-Pa., told Treasury Secretary Henry Paulson there is a "crisis of confidence" across the United States that demands action.

Frank to Paulson: Help homeowners

WASHINGTON, Nov. 18 (UPI) -- U.S. Rep. Barney Frank, D-Mass., Tuesday took U.S. Treasury Secretary Henry Paulson to task for the government's failure to buy up problem mortgages.

House grills Treasury on bailout

WASHINGTON, Nov. 14 (UPI) -- A U.S. House panel kept up the congressional criticism of the Treasury Department's handling of the $700 billion financial bailout Friday.

Treasury eyes credit-focus bailout

WASHINGTON, Nov. 13 (UPI) -- U.S. officials charged with pulling the country out of its financial malaise say they're working on a credit-focused plan aimed at thawing consumer credit.

U.S. markets close down Wednesday

NEW YORK, Nov. 12 (UPI) -- U.S. stock indexes slid from the opening bell to the close Wednesday on news the U.S. Treasury is considering changes in the $700 billion federal bailout plan.

Paulson: Bailout not for auto industry

WASHINGTON, Nov. 12 (UPI) -- The bailout package is for the financial industry, not the U.S. auto industry, despite its importance to the economy, Treasury Secretary Henry Paulson said.