MS. PERINO: It became clear that these companies were not going to be able to continue to function the way that they were, and that the whole system was at risk -- not only here in our country, but also affecting global markets. And so given that they were already part of a quasi-federal government agency, it's only appropriate that the President take this action. And Secretary Paulson, he believes, came up with the right mix with this conservatorship -- which I'm not an expert in, but Secretary Paulson has spoken about it today.

seen at 09:00, 8 September in Whitehouse Press Briefings. Email this to a friend.
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