Paulson says credit crisis may be fading - InspectionNews

Nick Ostrowski · #1 (**permalink**) 05-07-2008, 11:25 AM

This is the first bit of encouraging news I've read about the economic state of affairs in our country in a long time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

WASHINGTON - Treasury Secretary Henry Paulson said Wednesday the worst of the credit crisis may have passed but acknowledged that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.

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."

David Banks · #2 (**permalink**) 05-07-2008, 01:24 PM

Quote:

Originally Posted by Nick Ostrowski

This is the first bit of encouraging news I've read about the economic state of affairs in our country in a long time.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

WASHINGTON - Treasury Secretary Henry Paulson said Wednesday the worst of the credit crisis may have passed but acknowledged that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.

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."

Of course he is going to say that he is the talking head for the Administration.

John Arnold · #3 (**permalink**) 05-07-2008, 01:28 PM

Quote:

Originally Posted by Nick Ostrowski

..."I think we're closer to the end of this than the beginning."

To paraphrase Winston Churchill: We're not at the end. Pretty sure we're not at the beginning of the end. But we might be at the end of the beginning.

Joseph Burkeson · #4 (**permalink**) 05-07-2008, 11:56 PM

Quote:

Originally Posted by John Arnold

To paraphrase Winston Churchill: We're not at the end. Pretty sure we're not at the beginning of the end. But we might be at the end of the beginning.

A keeper for sure, thanks.