Sponsor Forex Brokers Paulson, Pelosi Say Legislation Will Solve "Systemic Risk" in Markets

After a meeting with congressional leaders Thursday night, Treasury Secretary Henry Paulson said that systemic risks in markets need to be dealt with, and a solution to meet U.S. needs is necessary.

He said the heart of the problem is in illiquid assets and that he wants them off balance sheets.

He said the approach he wants will require legislation and he will work closely with congress on a proposal.

Following Paulson, U.S. Speaker of the House Nancy Pelosi said time is of the essence for legislation and that they hope to move very quickly.

By Megan Ainscow, mainscow@economicnews.caThis email address is being protected from spam bots, you need Javascript enabled to view it

CEP Newswires - CEP News © 2008. All Rights Reserved. www.economicnews.ca

The Copying, Broadcast, Republication or Redistribution of CEP News Content is Expressly Prohibited Without the Prior Written Consent of CEP News.

A copy of CEP News disclaimer can be found at http://www.economicnews.ca/cepnews/wire/disclaimer.