Paulson Says Americans Personal Savings Are at Risk

Looks like I'll be withdrawing the rest of my money and closing the account tomorrow.

"Paulson: ‘Americans’ personal savings are threatened’

by Ian Swanson
09/19/08

The personal savings of ordinary Americans are at risk from a growing financial meltdown, Treasury Secretary Henry Paulson told reporters Friday.

Troubled mortgage assets purchased by Wall Street are clogging financial markets, choking off the flow of credit and preventing banks and other financial institutions from financing productive loans, a sober Paulson told reporters at a brief press conference.

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