The U.S. military has spent at least $100 million defending its computer network from and responding to cyberattacks, according to a top official responsible for network security.

WASHINGTON  – Treasury Secretary Timothy Geithner said Tuesday the new administration will wage an aggressive two-front battle against the worst financial crisis in seven decades, while the Federal Reserve announced it was expanding a key lending program to up to $1 trillion.

But investors appeared to reject the government’s latest plan. The Dow Jones industrial average plunged more than 300 points in midday trading as financial stocks led the market lower, reflecting Wall Street’s growing concerns about the government’s ability to revive the banking industry.

The efforts were part of the government’s major overhaul of the widely criticized financial rescue program.

The Fed said it would expand the size of a key lending program to as much as $1 trillion from $200 billion. The program, which has yet to begin operations, is designed to boost resources for consumer credit and small business loans.

The Fed said the program would be expanded to cover the troubled commercial real estate market and certain residential mortgages.

“Right now critical parts of our financial system are damaged,” Geithner said. “Instead of catalyzing recovery, the financial system is working against recovery and that’s the dangerous dynamic we need to change.”

Geithner said the loss of 3 million jobs last year, and another 600,000 just last month underscored the urgency for government action.

“It is essential for every American to understand that the battle for economic recovery must be fought on two fronts,” Geithner said in a speech in Treasury’s ornate Cash Room where he unveiled the administration’s new plan.

“We have to both jump-start job creation and private investment and we must get credit flowing again to businesses and families,” he said.

After five straight days of punishing air attacks, Israel rejected a proposal for a 48-hour cease-fire in its military onslaught in Gaza on Wednesday, saying it would maintain pressure on Hamas.

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CHARLOTTE – Outside groups from environmentalists to gun owners have poured more than $20 million into N.C. campaigns, a record level of spending fueling a surge of attack ads in the state’s top races.