Bush administration pledges rapid response to financial crisis

By Xinhua,

Washington : The Bush Administration pledged Monday to move rapidly to deal with the current financial crisis.

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“Conditions in US and global financial markets remain extremely strained,” said the President’s Working Group on Financial Markets (PWG) in a statement.

The PWG “is working with market participants and regulators globally to address the current challenges and restore confidence and stability to financial markets around the world,” it said.

The group, which includes Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben Bernanke, said it planned to move “with substantial force on a number of fronts”.