The Good Hands People

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Asked whether other financial companies may be in a situation similar to Bear Stearns', [U.S. Treasury Secretary Henry] Paulson did not directly answer. He did seek to strike a confident tone. ''Well, our financial institutions, our banks and investments banks are very strong,'' he said. ''And I'm convinced that they're going to come out of this situation very strong.''
U.S. Treasury Secretary Henry Paulson said on Friday the housing market correction appears to be at or near its bottom and that troubles in the subprime mortgage market will not likely spread throughout the economy.
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"I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained," he added.