Paulson to Time: We'll Get a Bill
Some interesting comments from Henry Paulson to Time magazine in a new interview just out. The last nugget, in particular, caught my eye:
- I believe we're going to get a bill that works and a clean bill ... It certainly won't be exactly what we asked for, it never is, but it's got to be sufficient to let us do the job." And Paulson thinks he'll get it soon. "We're right in the period where the sausage is being made," he says, but "I clearly believe we're going to get it done this week. We need to get it done this week."
- "We just haven't communicated as well as we need to," Paulson acknowelged this morning. "The average American looks at this as being about Wall Street, and they're angry, and I'm angry too. There have been huge excesses and flaws in the system, but the average American doesn't understand the implications this has for them: money needs to flow through the system so that every American business virtually every day can operate the way it needs to."
- “I and everyone else placed Fannie and Freddie debt," he says, but "We didn't create this system and this was a mess that had to be cleaned up."
