Charles Schumer
Uses for $700 billion bailout money ever shifting
Submitted by loner on 26 October, 2008 - 5:54pm- Alabama
- Bank
- Bank executives
- Bank of New York Mellon
- bank plan
- Bush administration
- Charles Schumer
- Charlie Rose
- Christopher Dodd
- Congress
- Connecticut
- Dodd's committee
- Federal Deposit Insurance Corp
- Federal Deposit Insurance Corp.
- Finance
- Henry Paulson
- http://biz.yahoo.com/ap/081025/meltdown_evolving_bailout.html
- Insurance
- National City Corp.
- National City Corporation
- Neel Kashkari
- New York
- PNC Financial Services Group Inc.
- Richard Shelby
- Senate
- Senate Banking, Housing and Urban Affairs Committee
- Sheila Bair
- The Bank of New York Mellon Corporation
- The PNC Financial Services Group, Inc.
- Treasury
- US
- USD
- Wall Street
- Washington
WASHINGTON (AP) -- First, the $700 billion rescue for the economy was about buying devalued mortgage-backed securities from tottering banks to unclog frozen credit markets.
Then it was about using $250 billion of it to buy stakes in banks. The idea was that banks would use the money to start making loans again.
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What did I say then?
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