IMHO,He’s the October Suprise. He’s a democrat with ties to Schumer and Obama was way too calm when he was down a month ago in the polls. He was telling the faithful that everything was going to be all right, and then the melt down began. Does some one have the memo out there on this one?
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MARCH 18,2008 Treasury Secretary Paulson concedes sharp decline, but not a recession
Int Herald Tribune---Reuters
WASHINGTON: The U.S. Treasury Secretary Henry Paulson Jr. said Tuesday that the American economy had turned down sharply, but he declined to label the current situation a recession. "We know we're in a sharp downclimb and there's no doubt that the American people know that the economy has turned down sharply," he said. "So to me much less important is the label that's placed on it today. Much more important is what we do about it." He said the Treasury was "all over" the turbulence in capital markets and that he did not think think the Bear Stearns shareholders believed they had been bailed out by the Federal Reserve. "The big focus on the part of all policy makers is to minimize the spillover to the real economy." Paulson said. "We need to keep our capital markets stable, functioning well." http://www.iht.com/articles/2008/03/18/business/18paulson.php