Paulson's take on the economy and subprime
U.S. Treasury Secretary Henry Paulson, speaking in India, says the American economy is doing fine, thanks, the AP reports today. Well -- mostly fine.
Paulson said authorities have been successful in containing the subprime crisis and that its impact appears to have been limited.But he acknowledged that the subprime crisis was not yet over.
"Six months ago people were more optimistic that in the housing market we have hit the bottom. We haven't hit the bottom yet," he said. It's going to "take a while to work our way through this."
