October 15, 2007: Bloomberg.com: News: "Under pressure from European governments to abandon his hands-off approach to financial regulation and the depreciating dollar, the U.S. Treasury secretary and former Goldman Sachs Group Inc. chief executive officer may be forced to accede to the first while resisting the second. "
October 16, 2007: Paulson Urges Action on Housing Crisis: "'Let me be clear, despite strong economic fundamentals, the housing decline is still unfolding and I view it as the most significant current risk to our economy,' Paulson said in a speech delivered at Georgetown University's law school. 'The longer housing prices remain stagnant or fall, the greater the penalty to our future economic growth.' In his most somber assessment of the crisis to date, Paulson said that the housing correction is 'not ending as quickly' as it had appeared it would and that 'it now looks like it will continue to adversely impact our economy, our capital markets and many homeowners for some time yet.'"
Tuesday, October 16, 2007
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