Paulson: 'The Worse Is Over'...

[capmac]

AP Interview: Paulson says credit crisis may be fading

Wednesday May 7, 3:24 pm ET

By Jeannine Aversa and Martin Crutsinger, AP Economics Writers

AP Interview: Paulson says worst of credit crisis may be over; gas prices will blunt rebates

WASHINGTON (AP) -- The worst of the credit crisis may have passed, Treasury Secretary Henry Paulson said Wednesday, while acknowledging that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.

In an interview with The Associated Press, Paulson said that the turmoil that has gripped Wall Street and took a turn for the worse again in March has eased somewhat. "There's progress," he said. "I think we're closer to the end of this than the beginning."

http://biz.yahoo.com/ap/080507/paulson_interview.html

 

[gnome]

Can't believe him. He's the Administration's lackey.

 

[fearless9]

Is Paulson talking about the Banks or the US tax payer.
Two different and opposing groups entirely.

regards
f9

 

[LT701]

the remedy worked just fine

the people who created the problem, and gave themselves million dollar bonuses got a boatload of welfare

and citizens got a 50 cent per gallon surcharge for dollar dillution at the pump

no problem

 

[greddy]

Quote from fearless9:

Is Paulson talking about the Banks or the US tax payer.
Two different and opposing groups entirely.

regards
f9

He is probably talking about banks. The common people have to deal with nosebleed inflation. Oh wait, core inflation is under control.

 

[gnome]

More dilution to come... LOTS more.

 

[cgtrader]

Translation from liars mouth to truth:

"The Worst Is Just Beginning"

 

[fearless9]

Quote from gnome:

More dilution to come... LOTS more.

Yes I completely agree with you gnome.

Having passed off rubbish paper to foreign banks as AAA the only solution now is to continue diluting as you say and spread the problem to every corner of the globe before it finds some sort of equilibrium.
But firstly the banks need topping up in order to benefit from the steps to come.

regards
f9

 

[niceneasy]

Quote from cgtrader:

Translation from liars mouth to truth:

"The Worst Is Just Beginning"

Agreed. He says its half over that means it aint even close.

Hes the same guy talking up the US's strong dollar policy as the thing is tanking like a stone and theya re cutting rates toi beat the band..

 

[S2007S]

Quote from capmac:

AP Interview: Paulson says credit crisis may be fading

Wednesday May 7, 3:24 pm ET

By Jeannine Aversa and Martin Crutsinger, AP Economics Writers

AP Interview: Paulson says worst of credit crisis may be over; gas prices will blunt rebates

WASHINGTON (AP) -- The worst of the credit crisis may have passed, Treasury Secretary Henry Paulson said Wednesday, while acknowledging that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.

In an interview with The Associated Press, Paulson said that the turmoil that has gripped Wall Street and took a turn for the worse again in March has eased somewhat. "There's progress," he said. "I think we're closer to the end of this than the beginning."

http://biz.yahoo.com/ap/080507/paulson_interview.html

They need a second stimulus plan quick...