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."
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