Henry Paulson is the public face of the government's response to the worst economic crisis since the Great Depression. His actions and decisions played a major role in the fate of institutions such as Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac and AIG. Recently, he summoned top bank executives to the treasury to announce the government's $250 billion recapitalization program for banks. "We need the banks to deploy the money, not to horde it," the United States treasury secretary said to me in a conversation on Tuesday. He said the recapitalization program would "increase the confidence of the banks, and, thereby, encourage them to do the lending we need them to do right now."
We also spoke about another important issue: communication. Many Americans feel that the government is bailing out the very people that got us into this mess. Paulson and numerous elected officials have said that isn't so, and that the rescue plan was necessary to build confidence in the economic system.
Watch to see what Paulson has to say on this topic.