|
|
"A comprehensive, collaborative elections resource."
|
U.S. government to give $250 billion to banks
|
|---|
| Parent(s) |
Issue
|
| Contributor | Ashley |
| Last Edited | Ashley Oct 14, 2008 10:43am |
| Logged |
1
[Older]
|
| Category | News |
| News Date | Tuesday, October 14, 2008 04:40:00 PM UTC0:0 |
| Description | WASHINGTON (MarketWatch) - Treasury Secretary Henry Paulson announced an extraordinary investment by the federal government in the American banking system on Tuesday, laying out an unprecedented plan to give $250 billion to banks to repair the faltering financial system and get lending started again.
Only a few weeks ago, Paulson said that giving banks capital would be a sign of failure, but changed his mind after global stock markets crashed and stress in the financial system rose to previously unimaginable levels.
Paulson said he regretted having to take the actions, but said they are "what we must do to restore confidence to our financial system." |
| Share |
|
|
2¢
|
|
| Article | Read Full Article |
|
| Date |
Category |
Headline |
Article |
Contributor |
|
|
