Monday, October 15, 2007

US Gov Plays a Central Role in the $100 billion Rescue Fund for Banks

The U.S. Treasury is playing a central role in helping banks avoid losses on mortgage securities, hosting weekend negotiations to help some of the nation's largest financial institutions set up a $100 billion fund to buy troubled assets, and sounding out investors about their support for the plan.The plan means that some banks now stand to profit

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