Treasury Secretary Henry Paulson Jr. today told Americans they should remain confident in the U.S. financial system, in the wake of Lehman Brothers Holdings Inc. filing for Chapter 11 bankruptcy and Bank of America Corp. being purchased by Merrill Lynch & Co. Inc.
Speaking at the White House, Paulson said he didn't consider using taxpayer money to help the Lehman Brothers crisis, but added he wouldn't rule out helping other companies in the future.
Paulson added that although the country is "working through a difficult period" due to "past excesses," Americans should have confidence in "the soundness and the resilience of our financial system."
Meanwhile, President Bush said the government is working to "reduce disruptions" to financial markets, and to reduce their effects on the overall economy, according to reports.
Speaking at the White House, Paulson said he didn't consider using taxpayer money to help the Lehman Brothers crisis, but added he wouldn't rule out helping other companies in the future.
Paulson added that although the country is "working through a difficult period" due to "past excesses," Americans should have confidence in "the soundness and the resilience of our financial system."
Meanwhile, President Bush said the government is working to "reduce disruptions" to financial markets, and to reduce their effects on the overall economy, according to reports.
