I think, with Hank Paulson, the concept of a bailout was anathema to him from day one. He was a Republican; he's a free marketeer. He believes in capitalism, and part of capitalism is believing in failure. And so the idea of bailing out an institution, I think, went against every part of him.
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About Andrew Ross Sorkin
Andrew Ross Sorkin was a contemporary American journalist and author. Andrew Ross Sorkin is an American journalist and author. He is a financial columnist for The New York Times and a co-anchor of CNBC's Squawk Box. Read more on Wikipedia →