Fed to Banks: "Lend Money"
From the Associated Press via Yahoo! News: "Paulson says troubled assets will not be purchased," by Martin Crutsinger--
Treasury Secretary Henry Paulson says that the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.
Paulson says the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.
Paulson says the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.
--Posted by Alton Illinois personal injury lawyers and the Edwardsville Illinois truck accident attorneys of Schaeffer & Lamere, P.C., handling Illinois Alton car accident, Illinois personal injury, products liability, workers' compensation, medical malpractice, Alton truck accidents, and all other types of injury cases.
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