Paulson Redefines Scope of $700 Billion Plan

Treasury Secretary Henry Paulson today said the department's actions to shore up the nation's banks by giving them government money in return for stock had helped the country avoid financial disaster. "Our system is stronger and more stable than just a few weeks ago," Paulson said. "Although this is a major accomplishment, we have many challenges ahead of us." Paulson said that prior to adopting the rescue package, the economy was at a "tipping point." "Before we acted, we were at a...Full Story
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