Paulson says troubled assets will not be purchased
politics, government, crisis, funding, bureaucracy
November 12, 2008, by MARTIN CRUTSINGER
Treasury Secretary Henry Paulson said Wednesday the $700 billion government rescue program will not be used to purchase troubled assets as originally planned.
Paulson said the administration will continue to use $250 billion of the program to purchase stock in banks as a way to bolster their balance sheets and encourage them to resume more normal lending.
housing credit crisis