Paulson tries to quell lawmakers' fears on rescue plan

07/17/2008 | Washington Post (tiered subscription model), The

Treasury Secretary Henry Paulson spent nearly an hour Wednesday trying to convince lawmakers, including Republicans, that the White House's backstop plan for Fannie Mae and Freddie Mac will not result in a bailout by taxpayers. Sources in the closed-door meeting said lawmakers asked Paulson some difficult questions, but he assured them that the assistance would be carefully done and temporary and that taxpayers would be shielded.

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Washington Post (tiered subscription model), The

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