WASHINGTON (AP) -- Treasury Secretary Henry Paulson says the bold approach needed to take troubled assets off the books of financial organizations will be expensive but doing nothing would cost far more.
Paulson said Friday that he planned to work through the weekend with congressional leaders to reach agreement on a plan that would address the root problems of the financial crisis gripping the country.
In remarks prepared for delivery to reporters at the Treasury Department, Paulson said that the new troubled asset relief program that he wants Congress to enact must be large enough to have the necessary impact while protecting taxpayers as much as possible.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Links require admin approval before posting.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.