The panic of Paulson and our economic no-man's land

Samuelson, Robert J.
September 2008
Fort Worth Business Press;9/29/2008, Vol. 20 Issue 38, p30
The author reflects on the $700 billion government bailout plan proposed by U.S. Treasury Secretary Hank Paulson. He notes that the bailout proposal by Paulson was a panic reaction to the turmoil of the world financial markets. He cites that Paulson's bailout plan is a smaller government intervention to the private economy compared to Richard Nixon's wage-price controls in August 1971. The author infers that the full implications of Paulson's plan will emerge over time before it can actually stimulate new lending or revitalize securitization.


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