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Bill Pinto

Credit crisis may be fading: Paulson

Some positive news from south of the border that may calm some of the unfounded fears of a real estate related crash that the Canadian media has been implanting in Canadian consumers for months now.  

  

JEANNINE AVERSA and MARTIN CRUTSINGER

 

Wednesday, May 07, 2008

WASHINGTON — The worst of the credit crisis may have passed, Treasury Secretary Henry Paulson said Wednesday, while acknowledging that rising gas prices will blunt the effect of 130 million economic stimulus checks. He ruled out a second stimulus package for now.

In an interview with The Associated Press, Mr. Paulson said that the turmoil that has gripped Wall Street and took a turn for the worse again in March has eased somewhat. “There's progress,” he said. “I think we're closer to the end of this than the beginning.”

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