When Paulson announced he was planning on taking advantage of the new powers congress and the president allotted him in a recent Housing (bank bailout) bill and take into government control Fannie Mae and Freddie Mac, Senator Dodd, who introduced the bill was shocked, or at least he acted like he was.
He scheduled hearings on the bailout scheduled for today. The hearings were postponed today by Dodd. "At the Treasury Secretary’s request, I have postponed tomorrow’s hearing."
Of course Mr. Paulson must be busy dealing with everything that's going on the the markets with WAMU, AIG, Fannie, Freddie, and well every other major financial institution to look after right? No.
"It is regrettable that the Secretary has said he is too engaged in the current crisis to come before the Congress, yet is available to give speeches on the same day he was scheduled to testify," (a banking committee aide)
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