Henry Paulson said Bailout plan rejection disappointing

Tuesday, September 30, 2008 at 11:41 am

WASHINGTON: US Treasury Secretary Henry Paulson said Monday that US regulators will use “all the tools available” to help the US economy, but warned their powers were “insufficient” and a rescue plan was urgently needed.

“This is up too important to simply let fail,” he said after the US House of Representatives rejected a plan to inject up to 700 billion dollars to help troubled Wall Street firms. “We need to work as quickly as possible,” he said.