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Henry Paulson

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Bailoutmania

So. The Big Bailout. The Rescue. The Emergency Economic Stabilization Act of 2008. (That's what we are calling it now you know). It's been not even three weeks since we first heard of this thing, and we have all aged years. So much has happened!

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Bailout Not So Popular on the Hill

Senators from both parties responded with a range of emotions at the hearing today, from grudgingly cooperative to Paul Revere–style riding-and-yelling levels of alarm.

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Bankers to Paulson: You're Kidding, Right? (Updated)

Wall Streeters hope that Treasury Secretary Henry Paulson's plan for overhauling the U.S. financial system is an April Fools' joke, Goldman head Lloyd Blankfein buys his maid a nice apartment, and someone has a birthday in our roundup of finance, law, media, and real-estate news.

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Karl Rove to Finally Profit From Professional Secret-Keeping

MEDIA • Here come the NBC News pay cuts: Jeff Zucker plans to slash anywhere between $20 and $40 million, including an entire level of MSNBC management. And thanks to the writers' strike and fears of recession, future cuts may only get worse. [NYP] • Karl Rove may be offered $3 million for a memoir, in which we may find out how much he got in exchange for his soul. [NYP] • At least one person thinks the press did a heckuva job in reporting the lead-up to the Iraq war — former top White House communications adviser Dan Bartlett. [NYO]

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Who's the Real Heir to Sandy Weill?

FINANCE • Citigroup's Chuck Prince and Chase's Jamie Dimon are battling it out to see who's the real heir to Sandy Weill. With Citi crashing and Chase eking out a gain despite the credit crunch, it looks like Dimon, long prodigal, may be the true son. [Deal Journal/WSJ] • Treasury Secretary Henry Paulson warned that we may see as many as one million home foreclosures before the end of the year. [NYT] • Want to be a hedger and a do-gooder, work a trading floor and enjoy the peace of mind of a nonprofit? Join the World Bank like former Goldman exec Robert Zoellick, and you can manage $55 billion in assets. [NYT]

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