Paulson: Bailout Has 'Helped Stabilize' Financial System

Treasury Secretary Hank Paulson is speaking at the moment, giving an update on the bailout/rescue plan, some of the details of which The Post had here yesterday.

He said things are slightly better than they were in September, when the economy was teetering.

"We have taken the necessary steps to prevent a broad systemic event," he said. However, he added: "Market turmoil will not abate until the biggest part of the housing correction is behind us."

You can read the entire text of his remarks here.

-- Frank Ahrens

The Ticker is Twittering!