The Treasury has had it's hands on most of the bailout interventions to date, and Paulson's plans are a major part of bailout questions now before Congress. Things are happening at a breakneck pace, and the situation still seems urgent. Congress has to review proposals and approve or disapprove, but they hardly have time to understand the complexities. Paulson seems to be the guy in charge - let's hope he knows what he's doing and that he's got all of our best interests at heart.
I'm usually not one for trivial predictions (because I have no clue what the future brings), but here goes anyway: Paulson will be Time's Person of The Year. I'm not saying he'll be popular or successful, but he's increasingly influential and important. You heard it here first.
How do you feel about the pace of regulation and recent government action? Tell us about it in the comments.
Further reading:
- Bloomberg Podcast: Levitt Sees Need for Oversight of Bank Rescue Plan (MP3 File)
- WSJ: Lawmakers Battle Over Rescue Plan
- Planet Money (New NPR Podcast): Unprecedented Power Shift In Bailout, Prof Warns