US ‘aggressively’ pushing others to bail out banks: Paulson

WASHINGTON, September 21, 2008 (AFP) - The United States is "aggressively" pushing other countries to forge bailouts for their financial institutions similar to the unprecedented 700-billion-dollar rescue it is planning for Wall Street, US Treasury Secretary Henry Paulson said Sunday.
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Paulson said the Treasury's proposal to Congress for authority to spend 700 billion dollars to buy toxic mortgage-related assets from financial institutions could serve as a blueprint for foreign authorities.

"We have a global financial system and we are talking very aggressively with other countries around the world and encouraging them to do similar things and I believe a number of them will," Paulson said on ABC's This Week program.
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Paulson did not provide further details, but US financial authorities have been working closely with their counterparts in Europe and Japan over the past 10 days to prevent a collapse of the interwoven global financial system.

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British Prime Minister Gordon Brown said on Friday that his government would "do everything in our power to ensure the stability of the (financial) system.

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