"Paulson laments not getting more ‘kudos’ for saving the economy."
In an interview with the Wall Street Journal, former treasury secretary Hank Paulson said the Bush administration prevented the economy’s “collapse” but seemed to lament the fact that the public hasn’t given the previous administration credit for it:
After he (and Mr. Geithner) pushed taxpayer capital onto the banks — but before a single dollar had actually been dispersed — people were asking why the banks weren’t lending more, he protests. And no Treasury secretary gets credit for avoiding catastrophe. “We succeeded in keeping the financial system from collapse,” he says, “but people were unhappy because we didn’t prevent a recession. It’s hard to get kudos for what didn’t happen.”
Paulson had kind words for Treasury Secretary Tim Geithner, saying he often relied on Geithner for advice. “I’ve been in the trenches with him. He can take a punch,” he said. Paulson also said he is writing a book “giving his account of the past few years.”