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Washington - Treasury Secretary Henry M. Paulson, Jr. issued the following statement today on House passage of the housing bill:
I'm pleased the House acted quickly to pass an important GSE bill that will provide temporary authorities to give confidence to markets and will create a strong, independent regulator better able to address the risks these enterprises pose.
I am disappointed that the legislation also includes extraneous provisions that we have opposed as detrimental to our efforts to get through the housing correction quickly.
However, as I have said before, the GSE portions of this bill are orders of magnitude more important to turning the corner on the housing correction and supporting our markets and our economy.
I look forward to working with the Senate to get legislation to the President's desk this week.
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