Treasury Secretary Henry Paulson said Thursday that he looks forward to a smooth transition.
CNN: Official: Obama could name more administration picks Friday
"I continue to have confidence in the underlying strength of the global economy, " Paulson said.
Paulson said the tumble in home prices resulting from the mortgage mess is not necessarily bad.
Yesterday, Treasury Secretary Henry Paulson said he is essentially tossing that idea out the window.
But at a news conference yesterday, Paulson said he now wants to expand that.
Bowing to the politically inevitable, Paulson said ''every country needs to focus on their own economic situation.
Paulson said investment banks borrowing from the Fed should give regulators enough information to allow sound lending decisions.
Treasury Secretary Henry Paulson said Fannie Mae and Freddie Mac play a critical role in the housing market.
Paulson said the government would end up making money on the stakes it would take in the banks.
Paulson said the remaining TARP funds would be reserved for a rainy day.
Treasury Secretary Henry Paulson said Congress and the administration need to agree quickly on a package of tax cuts.
"I think legislation could be passed because it's a simple idea, " Paulson said Monday in a interview with Forbes.com.
"These allegations do not represent the force that I joined and this condition cannot stand, " Mr Paulson said on Wednesday.
Paulson said that he would work towards the longer-term goals of encouraging China's economic reforms, and strengthening the overall U.S.-China relationship.
Paulson said Doggett's proposal would override existing tax treaties, disrupt investment in the United States and undermine Washington's ability to negotiate.
And like former Federal Reserve Chairman Alan Greenspan, Paulson said he would mostly favor spending cuts to reduce the federal deficit.
Key lending such as credit cards, car loans and student loans had essentially come to a halt in October, Mr Paulson said.
"In fact, the tax proposal may even cause other countries to retaliate, raising taxes on U.S. companies with multinational operations, " Paulson said.
Paulson said he hoped Congress could act next week on the plan.
"First, we got into Fannie and Freddie and we learned that there was a capital deficiency that needed to be addressed, " Paulson said.
Paulson said that investors have become "increasingly jittery here and around the world" and unwilling to provide added capital for Fannie and Freddie.
Though the country lost 85, 000 jobs during the first two months of 2008, Paulson said those figures did not tell the whole story.
Mr. Paulson said the case wasn't a distraction that was affecting the firm's investments, and that he was confident the public glare would abate.
"The needs of our economy require that our financial institutions not take this new capital to hoard it but to deploy it, " Paulson said Tuesday.
In July, when Congress gave the administration authority to take over the two mortgage giants, Paulson said he had no plans to use that power.
"It would be premature to jump to the conclusion that all broker-dealers or other potentially important financial firms in our system today should have permanent access, " Paulson said.
"The tax proposal would raise taxes on foreign investment into the U.S., thus discouraging such investment and the resulting job creation, " Paulson said in a letter to Rep. Jim McCrery, R-La.
Late on Friday, US Treasury Secretary Henry Paulson said the US planned to invest directly in banks for the first since the 1930s, following a similar UK programme of partial bank nationalisation.
In his opening remarks at the session Paulson said the business tax system in the U.S. is "clearly not optimal, " adding that it should not discourage either inward or outward investment flows.
An estimated 2 million loans could go into foreclosure this year, Paulson said, but the CBO estimates that only 500, 000 loans would be refinanced under the program in the next five years.
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