U.S. Will Invest $250B to Bail Out Banks

President Bush announced today the United States will embark on a bold plan to buy stakes in ailing banks in what is being called the largest intervention into the U.S. banking sector since the Great Depression. Treasury Secretary Henry Paulson said the plan will take $250 billion of the $700 billion in the congressional bailout bill. Bush, speaking from the White House Rose Garden, called the action temporary and necessary to inject capital into banks that have all but stopped lending...Full Story
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