Monday, December 17, 2007

I think that'll leave a mark 

There are a fair number of markets that are stable. I can�t undo the excesses of the last six years - housing prices rising at an unsustainable level, easy credit. When you have these kinds of excesses, it takes a while to work your way through it.
Treasury Secretary Henry Paulson, responding to Alan Greenspan's comments on ABC News' This Week that government should use cash "in larger amounts to help homeowners rather than to try to fix" credit markets. Who do you think Paulson would consider responsible for those "excesses"?