JTF.ORG Forum
General Category => General Discussion => Topic started by: Americanhero1 on November 12, 2008, 10:46:00 AM
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WASHINGTON – 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.
He announced a new goal for the program to support financial markets, which supply consumer credit in such areas as credit card debt, auto loans and student loans.
http://news.yahoo.com/s/ap/financial_meltdown#full