Today's Top Videos: Stimulus II, Weak Euro & More...
The possibility of a second economic stimulus package gained momentum after Fed chairman Bernanke urged Congress to consider a new plan, while Treasury secretary Paulson said in a briefing that giving money to banks won't hurt taxpayers. Following are today's top videos:
Paulson's Capital Purchase Plan
“Over the last few weeks, we have worked aggressively to implement the authorities provided by congress and the financial rescue package earlier on this month. This morning, I will provide a short update on the capital purchase program that is a key component of that package.”
—Henry Paulson, Treasury Secretary
Euro Rates Heading Lower
“[Madame Lagarde is] probably on the optimistic side. We are currently forecasting about 0.3 to 0.5 percent growth for GDP next year. And like in other countries such as the UK, we don’t have so much of a problem in the household sector…”
—Jean-Michel Six, Chief European Economist, Standard & Poor
Calling for CDS Regulation
“Tomorrow, the settlements of the [Lehman Brothers’ ] auction-outcome begin. I think it will be very interesting to see because that will be a very telling sign as to there was behind the credit default-swaps.”
—Eric Dinallo, Superintendent, New York State Insurance Department
Nobel Thoughts On the Economy
“…The Federal government has to step in and make up for these deficits. And if it doesn’t do that, there’s going to be a real problem. The talk about a stimulus package is not really a stimulus package—it’s preventing things from getting much worse…So what we need now is a comprehensive stimulus program.”
—Joseph Stiglitz, 2001 Nobel Prize winner/ Columbia University Professor