My Conversation with Henry Paulson

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.

Comments

[kaski]

Charlie,
What needs to be done to our economic situation is for Congress to overturn the 1913 law that gave away our central banking system to the Robber Baron families. The Federal Reserve is a privately owned banking corporation which lends money to our government with interest. Interest that Americans will never be able to pay off. These families that own the Federal Reserve operate on greed,control, power and fear. Paulson and Bernanke threatened Congress to give them what they wanted or else they would have Bush declare marshall law. So, Charlie, who actually runs our government? Why do you think a Dem. Congress could not stop the funding of the Iraq war? They were threatened. My own broker knows that the Federal Reserve is a privately owned banking system that is no more Federal than Federal Express is. Who in the media are going to start reporting the truth and reality to the public?

[Sagantech]

"Who in the media are going to start reporting the truth and reality to the public?"
Not PBS unfortunately. They have gone the way of the main stream media and are just another part of the corpocracy now.