Real estate blog entries tagged with banks by Genet Astatke-Faison (LongandFoster)

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Home : Blogs : Genet Astatke-Faison : Genet's Blog : Tag "banks"

banks: $250 billion capital purchase plan - 10/20/08 04:24 PM

Treasury Secretary Henry Paulson announced details on the Monday.
Under the plan, which is part of the Emergency Economic Stabilization Act signed into law Oct. 3, the Treasury Department will buy $250 billion in preferred stock in the nation's financial institutions. The hope is that the capital injection will restore confidence in banks and encourage them to lend more freely.
The plan is separate from the $700 billion Troubled Asset Relief Program, whereby the Treasury Department will buy distressed loans and securities from banks.
Paulson announced Oct. 14 that nine of the nation's largest banks had agreed to accept $125 billion … (0 comments)

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