Treasury Secretary Henry Paulson against blanket mortgage bailouts
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Henry Paulson, mortgage bailouts, Treasury Secretary March 1st, 2008Treasury chief cool to ‘big interventions’
Treasury Secretary Henry Paulson turned up the heat on borrowers and lenders who might be expecting a blanket government bailout from the current downturn in housing prices.
Speaking to the Economic Club of Chicago late Thursday, Paulson said less than 2 percent of home mortgages are in foreclosure.
“So, while some in Washington are proposing big interventions, most of the proposals I’ve seen would do more harm than good,” he said in remarks distributed before the speech
Tags: Henry Paulson, mortgage bailouts, Treasury Secretary
