Paulson on bailout: “Absolutely not”

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News item: In an interview today with CNBC, Treasury Secretary Paulson said a big bailout for banks is ‘absolutely not’ needed.

From The Wall Street Journal: ‘Following the U.K.’s surprise move to nationalize mortgage lender Northern Rock, will the U.S. need to make similar moves?

‘’Absolutely not,’ U.S. Treasury Secretary Henry Paulson told CNBC, dismissing talk that the Bush administration needs to initiate a widespread bailout program to assist the financial industry and restore investor confidence.’

Reuters: ‘Asked if a broader government bailout was necessary to restore confidence to U.S. credit and equity markets, Paulson replied, ‘Absolutely not. We’re seeing real progress.’’

Well, that settles that. To borrow from Dan Rather, you can pretty much take it to the bank, book it, it’s true.

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Photo Credit: AP