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Friday, November 14, 2008

Paulson: We have "humiliated ourselves as a nation"

by Calculated Risk on 11/14/2008 02:57:00 PM

From CNBC: Paulson: Worsening Crisis Forced Change in Strategy

"By the time the process with Congress was completed, it was clear that we were facing a much more severe situation than we had envisioned earlier on," Paulson said in a live interview. "We have this limited pool of resources—big, but limited, $700 billion—and how do we use that, and get the maximum impact, and it's by putting capital in (banks)."
And from Reuters: US's Paulson-adding bank capital needed-CNBC
"We have in many ways humiliated ourselves as a nation with some of the problems that have taken place here," Paulson said in an interview with CNBC television.
Speak for yourself Mr. Paulson.

Update: Looks like Kashkari had fun today (a 36 second video):