KKTV - Economy - Headlines

Paulson Defends Government Intervention

By: Associated Press
By: Associated Press
(AP Photo/Jose Luis Magana)

(AP Photo/Jose Luis Magana)

Treasury Secretary Henry Paulson says the next several months are going to be rough ones for the economy.

But he also expects that over time, things will improve, and that the government's decision to buy into nine of the nation's biggest banks with a $250 billion investment should stabilize things.

Making the rounds on the morning talk shows, Paulson admits he was against the idea of having the government intervene in the banking system. But he also says as things kept changing, he viewed it as the way to get "the maximum bang for the taxpayers."

Paulson admits problems such as rising joblessness are likely to continue in the short term. But ultimately he says "we're going to meet this challenge."

(Copyright 2008 by The Associated Press. All Rights Reserved.)

KKTV firmly believes in freedom of speech for all and we are happy to provide this forum for the community to share opinions and facts. We ask that commenters keep it clean, keep it truthful, stay on topic and be responsible. Comments left here do not necessarily represent the viewpoint of KKTV 11 News.

If you believe that any of the comments on our site are inappropriate or offensive, please tell us by clicking “Report Abuse” and answering the questions that follow. We will review any reported comments promptly.

powered by Disqus
KKTV 520 E. Colorado Colorado Springs, CO 80903 Office: (719) 634-2844 Fax: (719) 632-0808 News Fax: (719) 634-3741
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 31004144