Thursday, October 16, 2008

Paulson on Lehman, TARP : The CNBC Interview

For those that missed yesterday's CNBC interview with Treasury Secretary Mr.Paulson, here it is ....

During the CNBC Paulson interview, there were some very pointed and specific questions put to Mr Paulson. He was asked if in hindsight, leaving Lehman to fend for itself turned out to be a wrong decision given the strong negative market reaction thereafter. Mr. Paulson's answer was pretty long winded (you have to see the video to believe me ) but basically he did not agree with this. He was also very candid about his decision to inject Government capital directly into American banks which was a complete 'Volte Face' from his earlier stance when he had declared that injecting capital into banks would be considered a sign of failure.

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