Washington - US Treasury Secretary Henry Paulson, the architect of a 700-billion-dollar rescue plan that failed in Congress Monday, warned that the federal government does not have the means to address the massive financial crisis arresting the US economy.
Paulson said he was "very disappointed" in the House of Representatives rejection Monday. He promised to continue working with congressional leaders to find some kind of compromise "as soon as possible."
Ljubljana - Slovenia's Social Democrats won parliamentary elections by a one-seat margin, election officials confirmed Monday, clearing the way for a new government in the small European Union nation.
Prime Minister Janez Jansa's conservative Slovenian Democrats had refused to concede defeat after the September 21 voting, but after absentee votes were counted Monday they signalled they would not challenge the outcome.
Washington - US President George W Bush on Monday vowed to move forward on a strategy to resolve the nation's financial crisis after the House of Representatives delivered a stinging defeat to his 700-billion-dollar bail-out package.
"We put forth a plan that was big because we've got a big problem," Bush said, adding he planned to tackle the crisis "head on."
"We'll be working to develop a strategy that will enable us to move forward," he said.
Washington - Democratic and Republican leaders of the House of Representatives traded accusations over the failure of a massive rescue plan for the US financial industry, but promised to go back to the drawing table to find a workable compromise.
"We delivered on our side of the bargain," said Democratic House Speaker Nancy Pelosi, pointing out that 60 per cent of majority Democrats voted for a bill proposed by Republican President George W Bush.
Quito - Ecuadorian President Rafael Correa celebrated Monday the approval of a draft for a new constitution that he had advocated.
The leftist Correa commented to foreign media in Ecuador just hours after a referendum on the proposed new constitution on Sunday passed with 64 per cent of votes in favour, according to official results after roughly 80 per cent of the ballots had been counted.
Washington - The White House, reeling from the congressional defeat of its 700-billion-dollar plan to bail out Wall Street on Monday, was evaluating what to do next to stave off a broader economic collapse.
"It's a disappointment," Tony Fratto, a White House spokesman, told CNN. "We thought there would be enough support for this legislation."
Washington - US Treasury Secretary Henry Paulson, the architect of a 700-billion-dollar rescue plan that failed in Congress Monday, warned that the federal government does not have the means to address the massive financial crisis arresting the US economy.
Ljubljana - Slovenia's Social Democrats won parliamentary elections by a one-seat margin, election officials confirmed Monday, clearing the way for a new government in the small European Union nation.
Washington - US President George W Bush on Monday vowed to move forward on a strategy to resolve the nation's financial crisis after the House of Representatives delivered a stinging defeat to his 700-billion-dollar bail-out package.
Washington - Democratic and Republican leaders of the House of Representatives traded accusations over the failure of a massive rescue plan for the US financial industry, but promised to go back to the drawing table to find a workable compromise.
Quito - Ecuadorian President Rafael Correa celebrated Monday the approval of a draft for a new constitution that he had advocated.
Washington - The White House, reeling from the congressional defeat of its 700-billion-dollar plan to bail out Wall Street on Monday, was evaluating what to do next to stave off a broader economic collapse.
