Paulson calls for global action

(02:05) Report

Oct 8 - As Treasury Secretary Paulson prepares to host the G7, he is calling for intensified global cooperation to stabilize financial markets.

Paulson recited the numerous measures that members of the G7 -- the U.S., Britain, Canada, France, Germany, Italy and Japan -- and others have taken to try to halt plunging stock prices and rebuild confidence, but said more was needed.

Deborah Lutterbeck reports.

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