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Crony Communist or Businessman? Is Henry Paulson a crony communist or a businessman? The answer could be the difference between economic disaster and recovery. Understanding Paulson's role in stopping-or fueling-the credit crisis requires a review of two axioms from Economics 101: 1) A credit crisis occurs when banks stop lending and 2) The amount banks can lend is a multiple of the capital in their vaults. Therefore, ending a credit crisis means prompting new lending-and that means maximally increasing bank capital.

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Crony Communist or Businessman?

Is Henry Paulson a crony communist or a businessman? The answer could be the difference between economic disaster and recovery.

Understanding Paulson's role in stopping-or fueling-the credit crisis requires a review of two axioms from Economics 101: 1) A credit crisis occurs when banks stop lending and 2) The amount banks can lend is a multiple of the capital in their vaults. Therefore, ending a credit crisis means prompting new lending-and that means maximally increasing bank capital.