http://biz.yahoo.com/ap/081025/meltdown_evolving_bailout.html
Uses for $700 billion bailout money ever shifting
Submitted by loner on 26 October, 2008 - 5:54pm- Alabama
- Bank
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- Charles Schumer
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- http://biz.yahoo.com/ap/081025/meltdown_evolving_bailout.html
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- Neel Kashkari
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- Sheila Bair
- The Bank of New York Mellon Corporation
- The PNC Financial Services Group, Inc.
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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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