Henry Paulson, former Treasury Secretary and former CEO of Goldman Sachs, was on "Good Morning America" this morning to discuss his new book, "On the Brink". He strongly defended the AIG bailout, and claimed that the country is headed toward recovery because of the bailouts:
I have no doubt that the economy is on a path to recovery. I believe that if we hadn't taken the actions we had taken we could have seen unemployment rates up at the level of the Great Depression -- 25%.
He did admit, however, that "we have not fixed the problems we need to fix," and that too many banks are still "too big to fail."
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