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Paulson: Protectionism Won't Solve Credit Crisis

Treasury Secretary Henry Paulson told international leaders on Sunday that isolationism and protectionism could worsen the spreading financial crisis. With a new trading week dawning, U.S. lawmakers urged quick action by the Bush administration on measures to make direct purchases of bank stock to help unlock lending.Sen. Chuck Schumer, chairman of the Joint Economic Committee, said an administration proposal to inject federal money directly into certain banks, in effect partially nationalizing the banking system, "is gaining steam.""I am hopeful that tomorrow, the Treasury will announce that they're doing it. And they have to do it quickly ... markets are waiting," Schumer, D-N.Y., said.The administration has not indicated when it would announce its next steps.Democrats also are lining up behind House Speaker Nancy Pelosi's plan to bring lawmakers back to Capitol Hill after the Nov. 4 election to work on a second economic relief plan. The idea is "give the middle class and the average...

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  1. Congress Approves Protectionist Measure That Could Spark Trade War

    WASHINGTON - Congress approved protectionist measures in a $787 billion stimulus bill Friday that U.S. trading partners have warned could spark a trade war.The bill,...

  2. China Slams U.S. Tariffs on Tires as 'Serious Act of Trade Protectionism'

    BEIJING - China strongly opposed President Barack Obama's decision to impose punitive tariffs on imports of car and light truck tires calling it protectionism that v...

  3. Free Trade vs. Protectionism

    The mayors of Houston, Chattanooga, and Lansing debate free trade versus becoming a more protectionist country.

  4. Debate Over Free Trade, Protectionism

    Economist Don Boudreaux and Lou Dobbs debate protectionism versus true free trade.

  5. Canada Sees Signs of U.S. Protectionism ?

    Canadian Minister for International Trade Stockwell Day on why the Canadian government is worried about growing U.S. protectionism trends.

  6. Brown, Sarkozy Slam U.S. 'Protectionism' Over Plane

    The French and British leaders accused the United States of protectionism on Friday over a contract to build a new Air Force refueling tanker.A European-led consorti...

  7. Pat Buchanan: Patriot or Isolationist ?

    "The children born in 2006 will witness in their lifetime the death of the West.”Conservative columnist Pat Buchanan's new book, "State of Emergency: The Third World...

  8. Canadian PM: Concerned Over Protectionism

    Canadian Prime Minister Stephen Harper on the auto bailout and selling the country's stake in GM.

  9. Hodge: Obama Imposing Isolationist Tax Policy

    Tax Foundation president Scott Hodge argues raising taxes on corporations is undermining long-term economic growth.

  10. Part 2: Raw Data: Transcript of President Bush's Press Conference

    QUESTION: Thank you, sir.Did any good come out of President Carter's talks with Hamas? And did anyone in your administration ask him not to do it? And will it have a...

  11. Canadian Prime Minister Warns Protectionism Greatest Threat to Global Economy

    Protectionism is the biggest threat to the global economy, Canadian Prime Minister Stephen Harper told FOX News on Friday, adding that the fifth Summit of the Americ...

  12. Brown, Sarkozy Slam U.S. 'Protectionism' Over Plane

    The French and British leaders accused the United States of protectionism on Friday over a contract to build a new Air Force refueling tanker.

  1. Difference Between Streamlining the Military and Isolationism

    FBN’s John Stossel on why reducing spending on the military and making it more efficient is different than having an isolationist foreign policy.

  2. U.S. Economic Policies Protectionist ?

    U.K. Ambassador to the U.S. Sir Nigel Sheinwald, T2 Partners Founder Whitney Tilson and FBN's Charles Payne on whether U.S. economic policies are protectionist .

  3. Obama's appeasement of China, Japan is wrecking our recovery

    Tuesday, the Commerce Department is expected to report the April deficit on international trade in goods and services was $41.2 billion, up from $24.9 billion when t...

  4. Locke: Balancing Stimulus and Protectionism

    National Economic Summit: U.S. Secretary of Commerce Gary Locke sits down with Alexis Glick and talks about the future of small business and the pitfalls of protectionism .

  5. Non-Protectionist Agreement Needed

    Independent Analyst Cornelia Meyer on why a non- protectionist agreement is needed from the G-20, not just lipservice.

  6. China Rips U.S. Currency Bill as Protectionism

    BEIJING -- Beijing accused Washington of protectionism Thursday after U.S. lawmakers escalated the conflict over China's currency controls, inching the two economic ...

  7. Allies Worry Protectionist Measures in Stimulus Bill May Spark Trade War

    The $789 billion stimulus bill nearing passage by the U.S. Congress includes protectionist measures that, despite being watered down, have drawn the ire of trading p...

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