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Paulson Gets Senate OK

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Hank Paulson's nomination as Treasury Secretary was confirmed by the Senate yesterday. Bloomberg fills us in on why his confirmation hearings were so 'effin boring.

The cautious approach in testimony to the Senate Finance Committee June 27 and in responses to written questions likely was planned to avoid disrupting markets before Paulson, 60, digests all his briefing material, said Sophia Drossos, a currency strategist at Morgan Stanley.
"He was probably bland by design,'' she said from New York. "Paulson was aiming to make it low key. At least we know we don't have a loose cannon.''

Paulson Plays Safe on China, Taxes, Deficit on Road to Treasury [Bloomberg]