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FRIDAY, NOVEMBER 27, 2009
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Economic Recovery to Take Months: Paulson

But banking remains 'safe and sound'

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(Newser) – Henry Paulson sought to reassure Americans today that US banking is "sound" despite a growing list of troubled banks, Reuters reports. He also said the economy will stay slow for months, but expressed confidence that Congress will shore up Fannie Mae and Freddie Mac before summer recess. "Congress understands how important these institutions are," he said on Face the Nation.

Treasury Secretary Henry Paulson testifies on the economy, Tuesday, July 15, 2008, before the Senate Banking Committee on Capitol Hill in Washington.
Treasury Secretary Henry Paulson testifies on the economy, Tuesday, July 15, 2008, before the Senate Banking Committee on Capitol Hill in Washington.   (Associated Press)
In this photo provided by CBS, Treasury Secretary Henry Paulson appears on CBS's
In this photo provided by CBS, Treasury Secretary Henry Paulson appears on CBS's "Face the Nation" in Washington, Sunday, July 20, 2008.   (Associated Press)
Treasury Secretary Henry Paulson testifies before the Senate Banking Committee on the economy, on Capitol Hill in Washington, Tuesday, July 15, 2008.
Treasury Secretary Henry Paulson testifies before the Senate Banking Committee on the economy, on Capitol Hill in Washington, Tuesday, July 15, 2008.   (Associated Press)
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