Paulson: Not supporting ideas for second stimulus

WASHINGTON (Reuters) - Treasury Secretary Henry Paulson said on Wednesday he did not support Democratic calls for a second fiscal stimulus package and added that a number of credit markets were still not functioning normally.

"I'm not supporting a second stimulus package and more importantly, the president -- neither one of us are right now. We're focused on this one and making this one work," Paulson told Bloomberg Television shortly after President George W. Bush signed a $152 billion stimulus bill into law.

He said credit markets were taking a long time to work out problems due to complexity of products involving mortgage-backed securities.

"We're working our way through these problems and more and more, the eyes of the credit markets are on what's happening in housing in the U.S," Paulson said.

(Reporting by David Lawder)