Paulson defends bailout program

January 16, 2009 8:06:37 AM PST
Treasury Secretary Henry Paulson is defending his handling of the $700 billion financial rescue program, saying it has made real progress toward achieving financial stability. Paulson says the administration made the correct calls on major decisions in operating the program, even though he and other officials sometimes had to operate with imperfect information.

Paulson's remarks on Friday came after the government reached an agreement to provide billions of dollars in additional support to Bank of America Corp.

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