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We Need To Have This Correction, Bring It On

Posted on April 10, 2008

Some housing bubble news from Wall Street, Washington and beyond. AP, The U.S. economy has turned down sharply and is at risk for further weakening, US Treasury Secretary Henry Paulson said. Paulson also called it a disgrace that there hasn t been any legislation to reform oversight of Fannie and Freddie. And he said financial institutions shouldn t look to government to raise capital but should raise it on their own. He said a swoon in the housing sector, which was largely to blame for the rough patch, was necessary. We need to have this correction. It s not pleas...

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