US Pledges Financial Rescue Plan

18 09 2008

US officials say they will hammer out a “comprehensive” plan to tackle what has become a global financial crisis.

US Treasury Secretary Henry Paulson said after meeting members of Congress legislation would be required to rid banks of their bad assets.

He said this was at the heart of the rescue plan, which will be worked out over the weekend.

US stocks had earlier surged on news of the rescue plan, with the Dow Jones up 3.86%, to 11,019.69.



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