Monday, September 22, 2008

Hank Paulson as Dr. Frankenstein

August 1, 2007
BEIJING (Reuters) - "Treasury Secretary Henry Paulson said on Wednesday the repricing of credit risk was hitting financial markets, but U.S. subprime mortgage fallout remained largely contained due to the strongest global economy in decades."

May 7, 2008
"In an interview with The Associated Press, Paulson said that the turmoil that has gripped Wall Street and took a turn for the worse yet again in March has eased somewhat. 'There's progress,' he said. 'I think we're closer to the end of this than the beginning.'

July 21, 2008
'Our banking system is a safe and a sound one,' Paulson insisted on CNN's "Late Edition." He had earlier told CBS, the list of troubled banks would grow.
But 'this is a very manageable situation ... our regulators are focused on it.'

Sept 21, 2008
"Only $700B and worth every penny. Trust me."

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