WASHINGTON (AP) -- A Treasury Department official says Treasury Secretary Henry Paulson will do all he can to protect the financial markets and the economy after the House rejected a proposed $700 billion rescue bill for the financial system.
Treasury spokeswoman Michel Davis said Monday Paulson would be consulting with President Bush, Federal Reserve Chairman Ben Bernanke and congressional leaders on what next steps to take.
Stocks have plunged and investors have fled to the relative safety of Treasury bonds after the vote.
(Copyright 2008 by The Associated Press. All Rights Reserved.)
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