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Crashing down

Bailout rejected; new bill vowed

Treasury Secretary Henry Paulson (right) pledged yesterday to renew negotiations with lawmakers. He said he has ''significant tools in our tool kit'' to fix the economy, but they are ''insufficient'' to solve the current crisis without a bailout deal. Treasury Secretary Henry Paulson (right) pledged yesterday to renew negotiations with lawmakers. He said he has ''significant tools in our tool kit'' to fix the economy, but they are ''insufficient'' to solve the current crisis without a bailout deal. (Joshua Roberts/Bloomberg)
By Bryan Bender and Michael Kranish
Globe Staff / September 30, 2008

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WASHINGTON - President Bush and congressional leaders, stunned by the defeat of a $700 billion Wall Street bailout plan yesterday, vowed to quickly craft a new proposal to win over skeptical lawmakers before the worst financial crisis in generations deteriorates into a widespread economic meltdown. (Full article: 1200 words)

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