- Title Pages
-
Chapter 1 The Health Care Reform Legislation -
Chapter 2 The Simple Economics of Health Reform -
Chapter 3 The Economics, Opportunities, and Challenges of Health Insurance Exchanges -
Chapter 4 Can the ACA Improve Population Health? -
Chapter 5 Systemic Reform of Health Care Delivery and Payment -
Chapter 6 How Stable Are Insurance Subsidies in Health Reform? -
Chapter 7 Financial Regulatory Reform -
Chapter 8 Government Guarantees -
Chapter 9 How Little We Know -
Chapter 10 Finding the Sweet Spot for Effective Regulation -
Chapter 11 A Recipe for Ratings Reform -
Chapter 12 Should Banker Pay Be Regulated? -
Chapter 13 Fixing Bankers’ Pay -
Chapter 14 It Works for Mergers, Why Not for Finance? -
Chapter 15 Hedge Fund Wizards -
Chapter 16 Investment Banking Regulation After Bear Stearns -
Chapter 17 Why Paulson Is Wrong -
Chapter 18 Dr. StrangeLoan -
Chapter 19 Questioning the Treasury’s $700 Billion Blank Check -
Chapter 20 Auction Design Critical for Rescue Plan -
Chapter 21 A Better Plan for Addressing the Financial Crisis -
Chapter 22 Please Think This Over -
Chapter 23 Is Macroeconomics Off Track? -
Chapter 24 If It Were a Fight, They Would Have Stopped It in December of 2008 -
Chapter 25 Comment on Barbera -
Chapter 26 Pension Security Bonds -
Chapter 27 Carbon Taxes to Move Toward Fiscal Sustainability -
Chapter 28 Net Neutrality Is Bad Broadband Regulation -
Chapter 29 Trills Instead of T-Bills -
Chapter 30 The Google Book Settlement -
Chapter 31 The Stakes in the Google Book Search Settlement -
Chapter 32 The NFL Should Auction Possession in Overtime Games - Index
Questioning the Treasury’s $700 Billion Blank Check
Questioning the Treasury’s $700 Billion Blank Check
An Open Letter to Secretary Paulson
- Chapter:
- (p.147) Chapter 19 Questioning the Treasury’s $700 Billion Blank Check
- Source:
- The Economists' Voice 2.0
- Author(s):
Aaron S. Edlin
- Publisher:
- Columbia University Press
This chapter presents an open letter to Treasury Secretary Paulson, addressing the U.S. Treasury’s request for the authority to spend 700 billion taxpayer-owned dollars. The writer objected to the terms proposed by the Secretary, namely that the only hard restriction on this gift certificate is that it must be redeemed at “a financial institution having its headquarters in the United States” and used to buy “mortgage-related assets.” He further claims that the proposed legislation gives Paulson nearly complete authority to make bad deals in the name of stability—bad deals for taxpayers and good for his brethren on Wall Street. The letter also proposes putting Warren Buffett, and not Henry Paulson, in charge.
Keywords: Treasury Secretary Henry Paulson, financial regulation, Warren Buffett, bail out, financial crisis
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- Title Pages
-
Chapter 1 The Health Care Reform Legislation -
Chapter 2 The Simple Economics of Health Reform -
Chapter 3 The Economics, Opportunities, and Challenges of Health Insurance Exchanges -
Chapter 4 Can the ACA Improve Population Health? -
Chapter 5 Systemic Reform of Health Care Delivery and Payment -
Chapter 6 How Stable Are Insurance Subsidies in Health Reform? -
Chapter 7 Financial Regulatory Reform -
Chapter 8 Government Guarantees -
Chapter 9 How Little We Know -
Chapter 10 Finding the Sweet Spot for Effective Regulation -
Chapter 11 A Recipe for Ratings Reform -
Chapter 12 Should Banker Pay Be Regulated? -
Chapter 13 Fixing Bankers’ Pay -
Chapter 14 It Works for Mergers, Why Not for Finance? -
Chapter 15 Hedge Fund Wizards -
Chapter 16 Investment Banking Regulation After Bear Stearns -
Chapter 17 Why Paulson Is Wrong -
Chapter 18 Dr. StrangeLoan -
Chapter 19 Questioning the Treasury’s $700 Billion Blank Check -
Chapter 20 Auction Design Critical for Rescue Plan -
Chapter 21 A Better Plan for Addressing the Financial Crisis -
Chapter 22 Please Think This Over -
Chapter 23 Is Macroeconomics Off Track? -
Chapter 24 If It Were a Fight, They Would Have Stopped It in December of 2008 -
Chapter 25 Comment on Barbera -
Chapter 26 Pension Security Bonds -
Chapter 27 Carbon Taxes to Move Toward Fiscal Sustainability -
Chapter 28 Net Neutrality Is Bad Broadband Regulation -
Chapter 29 Trills Instead of T-Bills -
Chapter 30 The Google Book Settlement -
Chapter 31 The Stakes in the Google Book Search Settlement -
Chapter 32 The NFL Should Auction Possession in Overtime Games - Index
