July 21, 2008

Learn From Subprime Says Paulson

Meeting with BusinessWeek magazine editors US Treasury Secretary Paulson told of a recent exchange with his Beijing buddies:

Vice-Premier Wang Qishan (his Chinese counterpart in the US-China Strategic Economic Dialogue) said to Paulson recently, “We’ve been listening a lot to you and now we find out our teacher has problems.” Paulson said he responded, “Learn from us and you can avoid some of the mistakes.”

Teacher has problems, indeed.

hat tip to John M at Calculated Risk blog

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