After bailout bill fails, Treasury Secretary Paulson goes back to drawing board

Treasury Secretary Henry Paulson came into office two years ago (after tenure as CEO of Goldman Sachs) with an ambitious plan to remake the U.S. economy and tackle thorny problems like privatizing Social Security. Instead, he’s become the Bush administration’s point man and chief spokesman on a series of historic government interventions in the economy ? including yesterday’s failed $700 billion dollar bailout proposal for Wall Street. Guest: Sundeep Reddy, economics reporter for the Wall Street Journal