According to The Wall Street Journal article dated October 17, 2007 (Page A5), U.S. Treasury Secretary Henry Paulson claims the decline and related problems in credit and mortgage markets were “the most significant current risk to our economy.”  His speech is being viewed as significant because his comments reflect the continuing pressure that is causing turbulence in the financial markets.  Mr. Paulson believes the mortgage market problems will continue to persist.

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Link: Press Room, US Department of the Treasury, HP-612, October 16, 2007.

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ERM Enterprise Risk Management Initiative 2007-10-16