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Former Treasury Secretary Hank Paulson: I’m “disgusted by politicking” over selecting next Fed chair

Tonight on PBS NewsHour, Judy Woodruff interviews former Treasury Secretary Hank Paulson about the decisions he made five years ago when the financial crisis hit with full force, and whether too many banks are considered “too big to fail.”

Woodruff’s interview follows the news that President Barack Obama’s former top economic adviser Larry Summers withdrew his name for consideration to become the next Federal Reserve chairman. Many inside reports suggested the president was leaning toward nominating him.

Asked about the battle over Summers and whom might be selected to succeed Ben Bernanke, Paulson said: “I was disgusted by the politicking around this situation. What it says to me is we have dysfunction in our political process in Washington DC…I’ve got no use for ideologies on each side…Too often in Washington when people disagree on policy, they attack the person….All I know is good things about Janet Yellen…There are a number of good candidates.”

Paulson also told Judy that “at the end of the day, Congress should raise the debt ceiling and Congress will raise the debt ceiling. They always do.”

You can watch the interview tonight on the NewsHour.

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