Paulson To Use Superpowers Sooner Than Expected

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In a raft of measures, that aren't desperate (no really, we swear) Hank Paulson is set to issue what looks to be a general "term sheet" in the next few days for all financial institutions needing an thick injection of syrupy cash, or three.
Apparently, the power and flexibility Paulson possesses to complete these transactions has taken some by surprise. (People, we went over this once already. The Emergency Economic Stabilization Act of 2008 renames Paulson "Kal-El" and, because of his proximity to our yellow sun, grants him powers mortals could only dream of. Especially when it comes to syrupy capital injections). There is concern among many legislators that there was far too little opportunity for hand-wringing and grandstanding with lots of cameras and microphone thingies pointing before Paulson stole the show. Damn that Paulson and his financial crisis!
There is some grumbling (read: preparatory leaks) that Paulson might go so far as to nationalize crumbling banks as well, which should silence all the snickering that has been going on since Northern Rock was smothered in the ample bosom of the crown earlier this year.
Then there is the discussion of backing all bank deposits in the United States. It's all the rage, you know.
No word yet on the use of X-Ray vision to see into balance sheets from afar.
Radical Measures May Be In The Wings [CNBC]

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