From Paulson to You | 11:41 a.m. In response to a question, Secretary Paulson sought to clear the air about who the bailout was supposed to help. “This is all about the American taxpayer,” he said. “That’s all we care about.” He continued:
Any banking operation in the United states that is doing business with the American public is important. The American public in dealing with the financial system doesn’t know who owns that bank.
Later, he added, “You ask me about taxpayers being on the hook? Guess what, they are already on the hook.”
Related: Public Markup of the Dodd bailout proposal.