Mass. Weathers Financial Storm; Dark Clouds Loom

As the debate continues in Washington over the proposed $700 billion bailout from the nation's financial crisis, officials here say Massachusetts is weathering the crisis fairly well. They point to a high bond rating and relatively strong job and housing markets. But state revenues are down $200 million, and spending cuts are expected.

Among the state officials hoping for quick action in Washington is state treasurer Tim Cahill. He spoke with WBUR's Bob Oakes on Morning Edition.

This is an extended version of Bob's interview.