Paulson advierte de daños por venir...

Como dijera Yogi Berra, ¡esto no se acaba, hasta que se acaba!

Hank Paulson, the US Treasury Secretary, warned on Tuesday that the downturn in the nation’s mortgage market would burden the economy “for some time” as several big banks, the largest homebuilder and a major construction equipment maker all highlighted the growing impact of the housing decline.

Mr Paulson’s grim remarks came as James Owens, CEO of Caterpillar, the equipment maker, called the current housing decline the worst since the second world war. DR Horton, the largest US homebuilder, said nearly half its orders were cancelled in the last quarter.

Taken together with discouraging bank earnings, the housing news helped push stocks lower and bond prices higher as investors worried about the possibility of a US economic slowdown.