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  • Hank Paulson

    Morning Bell: Time to End the TARP Bailout Parade

    Senate conservatives last week waged a hard-fought and principled battle to protect both U.S. taxpayers and the integrity of the free market against the Washington establishment that favored a government bailout of General Motors and Chrysler. By late Thursday it appeared they had won. But within hours of the end … More

    Morning Bell: Paulson's Part of the Problem

    Before he became Treasury secretary, Hank Paulson firmly believed the government had no business interfering in financial markets by banning the short selling of financial stocks. But by mid-September of this year, while Lehman Brothers was on the verge of collapse, Paulson pressured the Securities and Exchange Commission to ban … More

    Government Bailouts Fail Again

    The Corner‘s Iain Murray flags a valuable new study out of the University of Chicago on Treasury Secretary Hank Paulson’s bank recapitalization plan: We calculate the costs and benefits of the largest ever U.S. Government intervention in the financial system. We estimate that the revised Paulson plan increased the value … More

    Morning Bell: Having Their Cake and Eating It, Too

    Yesterday before the Joint Economic Committee, Federal Reserve Chairman Ben Bernanke made a clear case as to why federal action is needed: home mortgages and car loans had become harder to get, commercial credit was becoming scarce for many businesses and consumer spending had already declined. Leaders in both parties … More

    Morning Bell: The Wrong Direction

    There is no doubt that past government intervention in the market, particularly by Fannie Mae and Freddie Mac, is largely to blame for the current financial turmoil. And while past government intervention cannot be used to justify further government interference, we also have to ask how much unnecessary pain the … More

    Morning Bell: Highway Robbery

    As a general principle, conservatives believe government should not intervene to protect those who have made poor business decisions — even if those decisions have been influenced by excessive government regulation. But there can be rare situations where the cumulative effect of many bad decisions in one sector of the … More