Aug 27, 2008

Henry Paulson on the congressional package to rescue Fannie Mae and Freddie Mac

We recognized quite early on that if there was some concern or lack of confidence in their access to capital, this could create a serious problem. But we certainly couldn't go to Congress and ask for these powers that would make it a self-fulfilling prophecy - - or we wouldn't have gotten the powers.

~ Henry Paulson, Treasury Secretary, "Paulson Risks Goldman Standard as Fannie, Freddie Shares Erode," Bloomberg, August 21, 2008, by Rebecca Christie and Matthew Benjamin

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