Paulson Says New Financial Rules Needed
Mar 26, 2008 - WASHINGTON — If big Wall Street investment houses are allowed to run to the Federal Reserve for emergency lending, they must face stepped-up regulation, Treasury Secretary Henry Paulson declared Wednesday. The demise of once-mighty Bear Stearns proves "the world has changed," underscoring a need for the government to adapt, too, he said.
The Bush administration will soon put forth an oversight…