Treasury Secretary Paulson: Government To Buy Bank Stocks

News Type: Event — Seeded on Fri Oct 10, 2008 7:26 PM EDT

Article Source: Yahoo! News

us-news, money, government, stocks, paulson, bank-stocks

Treasury Secretary Henry Paulson said Friday that the Bush administration will move ahead with a plan to buy stock in financial institutions.

Paulson said the program to purchase stock in financial institutions will be open to a broad array of institutions.

The administration received the authority to make direct purchases of stock in banks in the $700 billion measure Congress passed last week to rescue the nation's financial system.

It would mark the first time the government has taken equity ownership in banks in this manner since a similar program was employed during the Great Depression....

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{"commentId":3425539,"authorDomain":"newsguru"}

newsguru

This should be interesting.

{"commentId":3425539,"threadId":"385162","contentId":"1982971","authorDomain":"newsguru"}

1 vote

#1 - Fri Oct 10, 2008 7:29 PM EDT

{"commentId":3425583,"authorDomain":"PeaceTalk"}

Peace*Talk

Welcome to the New World Order.

{"commentId":3425583,"threadId":"385162","contentId":"1982971","authorDomain":"PeaceTalk"}

1 vote

#2 - Fri Oct 10, 2008 7:32 PM EDT

{"commentId":3426901,"authorDomain":"newsguru"}

newsguru

Explain?

{"commentId":3426901,"threadId":"385162","contentId":"1982971","authorDomain":"newsguru"}

1 vote

#2.1 - Fri Oct 10, 2008 8:52 PM EDT

{"commentId":3428370,"authorDomain":"fredegrar"}

fredegrar

newsguru -
I seeded the McClatchy version of this story a little bit ago and their article mentions some economists calling for a need for 'coordinated global action' by the major industrialized powers. I don't know if that's the angle Peace*Talk is coming from, but I'm picking up on a little of that new-world-order vibe from this too.

{"commentId":3428370,"threadId":"385162","contentId":"1982971","authorDomain":"fredegrar"}

1 vote

#2.2 - Fri Oct 10, 2008 10:08 PM EDT

{"commentId":3428983,"authorDomain":"newsguru"}

newsguru

Well, I see your point. Someone like myself already have had those inclinations for a while. As we see such a coordinated effort could not have come as quick if the proper relationships, structure, planning were already in place. Great point folks.

{"commentId":3428983,"threadId":"385162","contentId":"1982971","authorDomain":"newsguru"}

1 vote

#2.3 - Fri Oct 10, 2008 10:42 PM EDT

{"canLink":false,"threadId":"385162","isPrivate":false}

Paulson endorses bank stock purchase plan	Associated Press	Wed Oct 8	0
Paulson Says Will Buy Bank Equity `Soon as We Can'	Bloomberg.com	Fri Oct 10	0
Bailout becomes buy-in as feds move into banking	Associated Press	Tue Oct 7	8

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Treasury Secretary Paulson: Government To Buy Bank Stocks

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