"Our purpose is to increase confidence in our banks and increase the confidence of our banks, so they will deploy, not hoard, their capital, " said Paulson.
Because the government-sponsored enterprises (GSEs) are congressionally chartered, "only Congress can address the inherent conflict of attempting to serve both shareholders and a public mission, " said Paulson in announcing the plan.
Mr. Tourre's comment was consistent with testimony provided to the SEC by a former Paulson executive who said he had told ACA of Paulson's intention, according to people familiar with the matter.
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 the group wants to find ways to contain the problem without going too far.
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.
Tourre made the very good point that none of the offering and marketing documents said anything about Paulson being an equity investor.
"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.
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