Posts
567
Joined
4/1/2008
Location
Gold Coast
AU
Edited Date/Time
1/9/2012 8:49pm
Whats wrong with this article?
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NEW YORK, (Reuters) - U.S. Treasury Secretary Henry Paulson said on Friday the housing market correction appears to be at or near its bottom and that troubles in the subprime mortgage market will not likely spread throughout the economy.
"We've clearly had a big correction in the housing market. Retail housing was growing for some time at a level that was not sustainable," Paulson said in a speech to The Committee of 100, a business group in New York promoting better Chinese relations.
"I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained," he added.
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This is what Paulson said back in April 2007!!
This is the same guy that demands blind trust and no oversight with a trillion taxpayer dollars for the next few months???????
The US IMO is in for a bumpy downward spiral with this clown at the helm of sorting the money problem.
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NEW YORK, (Reuters) - U.S. Treasury Secretary Henry Paulson said on Friday the housing market correction appears to be at or near its bottom and that troubles in the subprime mortgage market will not likely spread throughout the economy.
"We've clearly had a big correction in the housing market. Retail housing was growing for some time at a level that was not sustainable," Paulson said in a speech to The Committee of 100, a business group in New York promoting better Chinese relations.
"I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained," he added.
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This is what Paulson said back in April 2007!!
This is the same guy that demands blind trust and no oversight with a trillion taxpayer dollars for the next few months???????
The US IMO is in for a bumpy downward spiral with this clown at the helm of sorting the money problem.
Post a reply to: Treasury's Paulson- subprime woes likely contained