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The Boston Globe

Business

Former Treasury Secretary Paulson defends ’08 bailout

Former Treasury Secretary Henry Paulson defended his decision to bail out US financial institutions in 2008, but acknowledged that he erred in communicating the move to the public.

Speaking to several thousand US and global executives at the Biotechnology Industry Organization’s annual convention in Boston, Paulson said he should have made it clear that the bailout was intended to stabilize the financial system and prevent a collapse that would have hurt ordinary Americans.

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