Why Will Paulson Be In Europe Next Week?
Does anyone else think that Treasury Secretary Paulson is doing everything possible not to be involved with domestic economic issues?
The Treasury announced this morning that Secretary Hank Paulson will be in Paris and London next week. With U.S. financial markets seemingly in turmoil; housing and credit of extreme concern to just about everyone, and the Federal Reserve poised to make an extremely important decision about interest rates, the one (or is it only?) person in the Bush administration with the most credibility with financial markets will be overseas?
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And, what of Congress?
And, what of Congress? What might it do, aside from bailouts, to calm choppy seas? The Democrat presidential contenders oppose the extension of the Bush tax rates, so there wouldn't seem to be much left in that toolkit. If we won't be helpful, let's be irrlevant!