Paulson says US may profit from bank bailout
OMAHA, Nebraska – Former Treasury Secretary Henry Paulson predicted the US Government will regain every penny given to the nation’s banks during the economic meltdown and may even profit.
Billionaire Warren Buffett agreed with Paulson yesterday that the bank bailout will eventually be profitable for the nation. The two men spoke at the Greater Omaha Chamber of Commerce’s annual meeting.
Buffett led the talk by asking Paulson about his recently released book: On the Brink: Inside the Race to Stop the Collapse of the Global Financial System.
Buffett, a long-time Democrat, said Paulson’s book gave him an appreciation of how well former President George W Bush understood the economy and how the Government reacted during the crisis.
