Treasury Secretary Hank Paulson told Meet the Press on Sunday that he would not stay on to help the next president deal with the ongoing mess. Instead he, “look[s] forward to doing other things next year.” He also doesn’t plan to save Freddie Mac or Fannie Mae.
MSNBC: Amid speculation that Treasury Secretary Henry Paulson would remain in his post to help the next president deal with the housing crisis, Paulson announced that he will not stay on during an interview on “Meet The Press” Sunday.
“I am very focused on getting everything done I can get done between now and January 19,” Paulson told moderator Tom Brokaw in Beijing. “I look forward to doing other things next year.”
Paulson told Brokaw that he thought it would take “well beyond” this year to work though the nation’s housing problems, and that they were at the heart of “our economic problems as a nation.” However, he does not plan on using his new authority to add capital into mortgage companies Freddie Mac and Fannie Mae, who are responsible for funding about 70 per cent of mortgages in the United States.
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