UK needs a bank bail-out scheme - Paulson

US Treasury Secretary Hank Paulson says he is in negotiation with a number of unnamed countries to persuade comparable manoeuvers to end the current financial turmoil, with the UK expected to join in. The multi-billion dollar US bail-out enables banks to offload illiquid assets currently blocking the financial system. Up to $700bn of Treasury securities will finance the purchase of troubled residential and commercial mortgage-related assets, while the Secretary has authority to purchase other assets if necessary. "We have a global financial system and we are talking very aggressively ...