Paulson: crisis happens once or twice in 100 years - WKOW 27: Madison, WI Breaking News, Weather and Sports

Paulson: crisis happens once or twice in 100 years

WASHINGTON (AP) -- Treasury Secretary Henry Paulson says the financial crisis now plaguing the world economy is an event that happens "once or twice" in 100 years.

  But he warns against imposing too-strict regulations as the U.S. and other countries contemplate steps to prevent a similar calamity from happening again.

  In remarks prepared for an event in Simi Valley, Calif., Paulson says: "If we do not correctly diagnose the causes, and instead act in haste to implement more rather than better regulations, we can do long-term harm."

Powered by Frankly