Is Treasury Getting to Bullish

" Then the taxpayers money to bail them out if you team that -- A good way of handling that situation -- Describe what authority you have to resolve them if you don't have. -- out of --"

" What you have is the authority to wind them down. Two separate. The bad from the good to sell the businesses. To put them out of existence and -- doesn't cause cause catastrophic damage the economy."

" Our present senator Jim -- talking up a plan to seize companies before they -- of the economy in the financial system itself. Now what's not clear -- power even when he would do that but tell my next guest afraid that it even tries to. Or the White House tries to control. There could be trouble still tonight though as an assistant secretary of the Treasury Department -- the bush administration and worries. Where power like that eventually get a secretary good to have you. -- thanks -- much I thought you know the -- by the Bush Administration you guys got this ball in motion and now you're you're shock."

" would do period equipment but he's. Yet they there's a certain irony I was one of the five people who voted on the TARP investments and today at that financial services committee. I said you know look I worry about this I worry about all the ways in which the extraordinary power -- chairman frank chairman Barney Frank proposed. All the way that could be used to yes somehow worried about a permanent --"

" So you're saying. Do what you guys tried to be surgically as they set at the time I think -- and Paulson said the that the time. That turned into something that was. You know to a lot of folks -- out and maps for the financial industry. You're saying it left in the hands of the White House sort of calling a -- here. It gets to be dangerous way to explain."

" Yeah so you know think about it what it is another. Failure of a large financial firms say it is another insurance -- another -- Bank that fails you know five years from now that you got to initiatives that it fed chair. They basically be in the same position we're in in September of last year thanks to the Fed could provide bridge financing. If they think he's good collateral right age -- think it was right AG had a bunch of operating subsidiaries that we're good. Lehman not so good right get -- into the dollar clearly not so good but."

" You may again call on -- you and your colleagues made it got caught someone to write -- quibble over whether it was -- but. You -- estimates were kind of run on the blood but they these guys are going on further by saying first we want to chop down these."

" To two reasons and it what do you make. And a -- the difference I would say is that. -- sector Paulson and chairman Bernanke they went to congress that said we need more we need to resource -- they would change their reasons why they went to congress on the ballot right. True they should they did but -- they went from the beginning and said look we tend to buy assets. And congress -- taking that as a -- a much better off just buying shares of the company and he doesn't look it's very Paulson who want to start there he got there eventually. -- I worry that. No they admit that the bill that's being proposed. -- attorney frank -- permanent ready at any time the executive branch the government -- table you're done. And the Fed has that the power to get along with the other regulators informed as and it doesn't have no checks and balances writing this is we're going to deploy massive. Public resources congress -- to vote -- whether it's a good idea or bad idea this is what we let congress for. That you have to be very young secretary. Very good appreciate it. I'm older than I look. Something Malia and secretary thank you very very much."