Paulson: Banking system sound
WASHINGTON (AP) - July 20, 2008
But Henry Paulson is trying to reassure people who might be
worried about their bank accounts. He says the U.S. has a safe and
sound banking system and that regulators are on top of things. He
calls it a manageable situation.
The government recently took over IndyMac after a run led it to
become the largest regulated thrift to fail.
Paulson used appearances on the Sunday talk shows to tell people
that deposits up to $100,000 are fully insured. He says no one has
lost a single penny on an insured deposit in the 75 years that the
Federal Deposit Insurance Corporation has operated.
