US Treasury Secretary Paulson: What did he expect?

by mike_yvr | December 30, 2008 at 07:33 pm

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It's ironic that the U.S. treasury secretary is complaining at the lack of regulatory tools at his disposal when the administration that he is part of has spent the last eight years getting rid of them.

Outgoing U.S. Treasury Secretary Henry Paulson said the U.S. government had to battle the financial crisis without the tools needed to do the job effectively, the Financial Times newspaper reported on Wednesday. Paulson also said any future regulatory overhaul needed to ensure that financial system infrastructure could allow for the failure of large institutions.