Summary
'Today I am announcing that the Treasury will purchase equity stakes in a wide array of banks and thrifts." Paulson said. "While many banks have suffered significant losses during this period of market turmoil, many others have plenty of capital to get through this period. ... Our goal is to see a wide array of healthy institutions sell preferred shares to the Treasury and raise additional private cupital so that they can make more loans to businesses and consumers across the nation."
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Extract
No End to Government Economic Intervention?
There was instructive value even in the language that the Washington Post and the New York Times used to describe the meeting last Monday at which nine large banks agreed to surrender part ownership to the government.
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