“What began as a subprime lending problem has spread to other, less risky mortgages and contributed to excess home inventories that have pushed down home prices for responsible homeowners.”

Henry Paulson is an American economist and former U.S. Treasury Secretary. He is best known for his leadership during the 2008 financial crisis, guiding the implementation of the Troubled Asset Relief Program (TARP) to stabilize the financial system. His career spans Wall Street, government, and corporate boardrooms, marked by a focus on economic policy and crisis management.