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The Government Says
Unofficial blog of briefings from the Whitehouse. Based on DowningStreetSays.com.

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Q What I'm asking is, what's the timetable we can expect, based on what the Secretary is saying, as to when we'll start to see credit markets begin to unfreeze?

MR. FRATTO: You know what, I would leave those kinds of predictions to Secretary Paulson and Chairman Bernanke. I mean, they're going to have a better feel for that. We know it's going to take a little bit of time to implement the program, and they're still working out how exactly that will happen. Clearly it will give a boost -- it should give a boost of confidence to a very uncertain market right now. The market has been wondering for a number of weeks now just what the federal policy response would be. Should this legislation pass, they'll have a good sense of that and that can help to anchor their expectations.

And so hopefully that will contribute to stability in the markets, just having had the legislation passed and then we'll learn from Secretary Paulson and his team what the timetable is for implementation.

seen at 09:00, 3 October in Whitehouse Press Briefings. Email this to a friend.
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