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Policymakers Weigh In: “There is No Silver Bullet” For Credit Crisis 

In widely-anticipated remarks delivered today, U.S. Treasury Secretary Henry Paulson discussed a newly-released report by the President’s Working Group on Financial Markets that makes broad recommendations for policy and legislative action in the months ahead. The group — which includes the Treasury, the Fed, FTC and SEC — had been tasked by the President with analyzing current market turmoil and putting recommendations in place to prevent such a scenario from playing out again.