reasury 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
- He said he was leaving. She ignored him.
- How my boyfriend and I learned to live on one income
- 31 TV shows to watch in 2014
- Why the poor's investment of choice is so alarming
- Why China's Communist Party is headed for collapse
- Obama's next steps on immigration
- What would a U.S.-Russia war look like?
- Affirmative action is doomed. Here's what progressives should do about it.
- Why Texas Republicans may want to cool the anti-Obama land-grab talk
- How to make perfect fried rice in 6 easy steps
Subscribe to the Week