"Although a recession in the developed world is now more or less inevitable, China, India and some of the oil-producing countries are in a very strong countertrend. So the current financial crisis is less likely to cause a global recession than a radical realignment of the global economy, with a relative decline of the US and the rise of China and other developing countries. The danger is that the resulting political tensions, including US protectionism, may disrupt the global economy and plunge the world into recession or worse."

George Soros Financial Times December 15, 2008

Alliance For Economic Stability

Home Quotes Hank Paulson. Former Head of the Treasury and Goldman Sachs. Prepared Testimony Before the House Oversight and Government Reform Committee. January 27, 2010.

“I was not involved in any of the decisions made with respect to those payments, nor was I involved in any of the decisions about A.I.G.’s public disclosure of those payments…Those matters were handled by the Federal Reserve Bank of New York and the Federal Reserve Board. They sought to make appropriate decisions on those matters.”

Hank Paulson. Former Head of the Treasury and Goldman Sachs. Prepared Testimony Before the House Oversight and Government Reform Committee. January 27, 2010.

 

 

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