Views From Within

Internet Political Prophecies And Subversive Material For Cool People

Paulson Says 2 Million Foreclosures Estimate “Exaggerated”

Posted by jeremiasx on September 7, 2007

Wow…ok then…so I guess we should trust this guy from Goldman-Sachs to tell us what’s going to happen? I don’t TINK SO, SENOR. From MarketWatch.

 

WASHINGTON (MarketWatch) — Strains in global credit markets could take months to work out as the markets reassess the price of risk, Treasury Secretary Henry Paulson said Thursday in a televised interview.

 

“There have been real strains in the capital markets and across some of the credit markets,” Paulson told the Nightly Business Report on PBS. “And I think this will take a while to play out, and almost certainly over time this will have an impact on our economy.”

 

“It’s certainly going to be into the weeks, maybe a number of months,” he said.

Investors seem to “learn their lesson every seven, eight, 10 years or what have you,” he said.

 

Paulson said the economy would pay a “penalty,” but insisted that the U.S. and global economies were “very strong.”

 

Paulson said estimates of 2 million foreclosures are exaggerated. He said the Bush administration is not seeking to bail out “speculators.”

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

 
%d bloggers like this: