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Political Ravings Forum - Politics Forum » Political Issues » Worldwide Economic Issues » Paulson Braces Public for Tough Times Ahead

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Paulson Braces Public for Tough Times Ahead

#1   07.21.2008

WiseOne Political Forum Owner   Join Date: Sep 2007 Location: Big Sandy, TN Posts: 1,037 Last Seen: 5 Hours Ago Persuasion? Independent Political Blog: 1

Paulson Braces Public for Tough Times Ahead Quote: WASHINGTON — Treasury Secretary Henry Paulson sought to reassure an anxious public Sunday that the banking system is sound, while also bracing people for more troubled times ahead. "I think it's going to be months that we're working our way through this period — clearly months," he said. Paulson said the number of troubled banks will increase as they struggle to cope with big losses on bad mortgages. The government this month took over IndyMac after a run led it to become the largest regulated thrift to fail. "Of course the list is going to grow longer given the stresses we have in the marketplace, given the housing correction. But again, it's a safe banking system, a sound banking system. Our regulators are on top of it. This is a very manageable situation," he said in broadcast interviews. Read More Here >> Fox News WiseOne's Comments, If I were someone with over $100,000 in one account I would certainly move it around to be insured by the FDIC to be sure! I kind of wish I did have that problem, LOL. __________________ Truck Forum ...making sense of the trucking industry Hillary For President ...do YOU want Hillary For President? ...And this shall be the plague wherewith the LORD will smite all the people that have fought against Jerusalem; Their flesh shall consume away while they stand upon their feet, and their eyes shall consume away in their holes, and their tongue shall consume away in their mouth. -- Zechariah 14:12 ________________________________________

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