WASHINGTON – The Bush administration signaled strongly on Monday that troubled Wall Street shouldn’t expect more rescues from Washington.
Treasury Secretary Henry Paulson declared that the current turmoil in markets and financial institutions ultimately will “make things better.”
Both President Bush and Paulson worked to calm jitters about the latest developments — the venerable Lehman Brothers Holdings Inc. filing for bankruptcy, Merrill Lynch & Co. being forced to sell itself to Bank of America, and American International Group Inc., the world’s largest insurance company, seeking emergency funding to shore up its balance sheet.
