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Treasury Boss: Worst Is Over

Paulson says US emerging from storm

By Peter Fearon, Newser Staff

Posted May 7, 2008 2:45 AM CDT

(Newser) – The US is emerging from the credit woes triggered by the turmoil over subprime mortgages—despite the continuing wave of foreclosures across the nation, according to Treasury Secretary Henry Paulson. Paulson, in the most positive comments yet from the White House on the nation's economic troubles, in part credited the federal bailout of Bear Stearns, reports the Wall Street Journal.

It will be "some months longer" before for the crisis is over, Paulson conceded. But "there's
no doubt that things feel better today, by a lot, than they did in March. The worst is likely to be behind us."

Despite the wave of foreclosures, the US Treasury Secretary Henry Paulson says the worst of the credit crisis has passed. (AP Photo/Mel Evans, file)

Treasury Secretary Henry Paulson says the worst of the credit crisis may be over. (AP Photo/Ron Edmonds)

Treasury Secretary Henry Paulson says the worst of the credit crisis may be over. (AP Photo/J. Pat Carter)

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Treasury Boss: Worst Is Over

Paulson says US emerging from storm

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More Newser Stories

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Feds: Do-Nothing Fannie Mae Knew of Foreclosure Abuses in '03

But oversight will be 'tightened' by end of next year

Feds Sue Big Banks Over Mortgages

US accuses them of dodging due diligence as crisis fallout spreads

Obama Looks to Keep Feds in Mortgage Biz

Prez reportedly rejects calls to pull gov't out of housing market

Home Prices Have Fallen 57 Months in a Row

Home values fell 3% in first quarter of 2011

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Treasury Boss: Worst Is Over

Paulson says US emerging from storm

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OTHER STORIES ON OUR RADAR

Federal Reserve • Henry Paulson • Bear Stearns • Freddie Mac • Fannie Mae • Federal Housing Administration • credit crisis • subprime crisis • financial crisis • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

$26B Mortgage Settlement a 'Modest' Help: Experts

Many struggling homeowners not covered in deal

Feds: Do-Nothing Fannie Mae Knew of Foreclosure Abuses in '03

But oversight will be 'tightened' by end of next year

Feds Sue Big Banks Over Mortgages

US accuses them of dodging due diligence as crisis fallout spreads

Obama Looks to Keep Feds in Mortgage Biz

Prez reportedly rejects calls to pull gov't out of housing market

Home Prices Have Fallen 57 Months in a Row

Home values fell 3% in first quarter of 2011

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?