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October 14, 2008
U.S. Will Invest $250 Billion in Banks
The Treasury Department, in its boldest move yet, plans to invest up to $250 billion in banks, The New York Times reported. President Bush announced the measure on Tuesday morning after a harrowing week in which confidence in financial markets vanished.
NYT: Dealbook
CLusterstock: Treasury Seizing Stakes In Nine Big Banks
MR: The Deal
Bloomberg says none of the banks were given a choice.
Is this even constitutional?
Posted October 14, 2008 09:01 AM in in Bailout category.