McCotter: Fire Paulson
At least one member of the House GOP leadership team thinks part of the solution to restoring economic certainty is firing Treasury Secretary Henry Paulson. Shortly after the House dramatically defeated a $700 billion bailout bill that remains in limbo for the time being, Republican Policy Committee Chairman Thaddeus McCotter (Mich.) called on President Bush to demand Paulsons resignation. Paulson, who represented the administration in talks on the economic rescue package, no longer serves a constructive role in the enactment of the legislation necessary to end this period of financial difficulty and uncertainty, McCotter said. McCotter also called on Bush to calm the global investor panic his administration has exacerbated and to pick a different person such as former Treasury Secretary James Baker III to attend future Congressional negotiations on the bill.