Multiple quick fixes tried for US financial crisis

WASHINGTON: Treasury Secretary Henry Paulson says the bold approach needed to take troubled assets off the books of financial organizations will be expensive but doing nothing would cost far more.

Paulson said Friday that he planned to work through the weekend with congressional leaders to reach agreement on a plan that would address the root problems of the financial crisis gripping the country.

In remarks prepared for delivery to reporters at the Treasury Department, Paulson said that the new troubled asset relief program that he wants Congress to enact must be large enough to have the necessary impact while protecting taxpayers as much as possible.