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Paulson Gives It To Us Straight

Posted on 11/7/2008 by |General News | Comments

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AARP sat down not too long ago to talk with U.S. Treasury Secretary Henry Paulson, where he told them rather than focusing on the second economic stimulus, his efforts were directed towards making efforts to stable world markets and the U.S. financial system. Here’s some of his thoughts:

“We have not done as good a job at communicating as we should have . . . Our objective has never been to save a particular financial institution, but to serve the public interest.
“Stability in the financial system is a social good. If we don’t have confidence in the financial system and our markets, the people who are the losers are the American people. And the biggest losers are those who are retired and on fixed incomes and those who are working hard to make ends meet. It’s a crushing burden.”

Indeed it is. Make sure to check out the whole feature.