Paterson: Economy Rebound Could Be Two Years
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- September
- 25
Speaking on CNBC’s “Squawk Box” this morning, Gov. Paterson said he supports the federal bailout of Wall Street, but that the package will ultimately end up being closer to $1 trillion than the proposed $700 billion.
“The problem is going to be when this gets done, if we continue the same policies of the past that have gotten us into so much trouble,” Paterson said.
Paterson warned that the financial sector will be need to be better regulated and can’t be solely under one central bank.
He said it’s hard to measure when the economy will come back around, but said “We would just hope to see a change in the next 18 months to two years.”
Paterson is also going to be on live today on some radio programs:
3:06 p.m. — Live interview with Sherman Baldwin, WROW 590 AM radio.
3:18 p.m. — Live interview with Wayne Cabot and Steve Scott, WCBS 880 AM radio.
This entry was posted
on Thursday, September 25th, 2008 at 1:33 pm by Joseph Spector.
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The admittedly nice guy Guv graduated from Columbia in 1977 with a degree in History. His expertise in the events surrounding the War of 1812, the California Gold Rush, and the Lincoln Era tells him that the economy of the country will improve in the next 18 months.