Secretary Henry Paulson announced in a briefing today that although our financial system is going through rough times, Americans can remain confident as our financial system is sound and resilient. This comes after the largest federal takeover in history and as domestic and foreign markets continue to plummet.

Paulson claimed that the housing correction is at the root of the market turmoil, and that the takeover of Fannie and Freddie is an important turning point for the current market. He continued by saying that we need to find a balance between regulation and market discipline.

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