Treasury will end up using TARP funds, but they hoped Congress would step up and cover a auto bailout/rescue.
Senators played chicken. Asian markets took a dive and Europe followed.
Dow fell 200 points in minutes and Paulson thought, “If it keeps falling, so goes financial stocks, and I’ll be rescuing more banks this weekend like I did for Citibank.”
My comments on the recent developments with the White House and automakers.
“Aim for Answers”