Treasury Secretary Henry Paulson is pushing for quick congressional approval of his $700 billion Wall Street bailout plan, said Newt Gingrich in National Review Online. But “before D.C. gets our money, it owes us some answers.” For starters, are the “financial magicians” Paulson will hire to fix the crisis the same Wall Street geniuses who got us into it?
Paulson wants a “clean” bill, said Paul Krugman in The New York Times, and that means “taxpayer-financed bailout with no strings attached.” We need some strings, such as giving taxpayers “a share in the ownership” of the soured mortgage-backed bonds they are paying for.
Paulson has “one powerful retort” to all these concerns: that his plan is “better than continued turmoil,” said Robert Samuelson in The Washington Post. Our financial system depends on trust, and we need to do something dramatic to restore the trust that has been lost.
THE WEEK'S AUDIOPHILE PODCASTS: LISTEN SMARTER
- What would a U.S.-Russia war look like?
- Scottish independence is another financial crisis waiting to happen
- 7 things the world's happiest people do every day
- 10 things you need to know today: September 1, 2014
- Fall movie guide: All the films you should see in September
- The 10 best networking tips for people who hate networking
- The next pandemic
- These real-life Rosie the Riveters changed the face of labor
- The keys to succeeding with a job recruiter
- Why the West should let Russia have eastern Ukraine
Subscribe to the Week