October 21, 2007
Washington should avoid doing Wall Street favours
Column on the Financial Times comment page, October 21st
There was something troubling about this week’s initiatives by Hank Paulson, the US Treasury secretary, to address the country’s deteriorating housing market and the credit and liquidity problems that this is still causing for banks.
His speech in Washington on Tuesday, predicting that the subprime mortgage crisis would spread further, unnerved markets. Mr Paulson’s close-cropped hair, bald pate and intense manner, combined with his gloomy message, made him look like Dr Doom. His hobby is bird-watching, but I would not care to be the bird that he stares at through a pair of binoculars.
The rest of this column can be read here. Post comments below.
