Times of crisis demand strong, decisive leadership aimed at protecting the American people. Henry Paulson failed to see this crisis coming and his actions failed to restore confidence in America's financial institutions.
Please join our call for new leadership by signing the petition to the right.
Why We Need This Change
Despite months of warning signs, the Treasury Department was totally unprepared for this crisis, denying that there was a problem right up to the moment banks started to fail. Once it finally became clear even to Secretary Paulson that this was a crisis that demanded action, the Treasury Secretary came to Congress and asked for $700 billion with just a three-page proposal and no plan for how to spend the money.
Our markets have always been the envy of the world, because we don't change the rules. But now, no one knows what the rules are, and it's caused an overwhelming crisis of confidence. We need to restore confidence in our markets by restoring leadership to the Treasury Department. This starts by removing Secretary Henry Paulson.
A Loss of Trust
"You have the former Chairman of Goldman Sachs asking for 700 billion dollars, and in his initial request, asking for it in such an un-American way that I think he should have resigned. I think Paulson has terminally misunderstood the nature of the American system."
- Newt Gingrich
"Mr Paulson's record does not inspire the confidence necessary to give him discretion over $700 billion. His actions brought on the crisis that makes rescue necessary."
- George Soros
"If Paulson can't be honest about what he himself sent to Congress - if he not only made an incredible power grab, but is now engaged in black-is-white claims that he didn't - there is no reason to trust him on anything related to his bailout plan."
- Paul Krugman
President Bush:
In this time of acute crisis, a moment that puts at risk not just our financial institutions, but our entire economy and every American family, Secretary Paulson has not provided the leadership that our country needs.
We ask you to immediately replace Secretary Paulson with a new, bipartisan leader who will put us back on a path to create jobs and strengthen our economy. We can't wait a moment longer.
Sincerely,
61 and counting
