September 21, 2008 / 1:41 PM / 9 years ago

Paulson says U.S. taxpayers at risk in bailout plan

WASHINGTON (Reuters) - U.S. Treasury Secretary Henry Paulson acknowledged on Sunday an emergency rescue plan aimed at stabilizing a financial system in freefall will cost taxpayers money, but argued that costs will not be as high the $700 billion limit of the package.

<p>Treasury Secretary Henry Paulson speaks about the government's plan to attack financial market weakness by buying up risky loans at a news conference at the Treasury Department in Washington, September 19, 2008. REUTERS/Jason Reed</p>

“The taxpayer is at risk,” he said on “Fox News Sunday” television program, but added, “It would be extraordinary circumstances, highly unlikely, that the cost will be anything like the amount you spend for the assets.”

Reporting by Mark Felsenthal; editing by Mohammad Zargham

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below