From Deseret News archives:
Feds take bold step to encourage banks to make loans
WHY IT'S IMPORTANT: Banks may now have more confidence to lend to other banks and to consumers and businesses. If they don't, the U.S. could be facing a painful recession.
WHAT HAPPENS NEXT: Once the financial markets stabilize and recover, the banks are expected to buy the stock back from the government, Bush said. The Federal Reserve said its plan to buy vast amounts of short-term debt, to try to unclog the credit pipeline and provide corporate funding, will start Oct. 27.
Comments
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192 - Palin plans tour stop in Utah
173 - Glenn Beck to enter politics?
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122 - Officer cleared in Cardall Taser case
103 - BYU cuts Women's Research Inst.
100 - Jazz finally win in San Antonio
98 - Hall breaks BYU record with win
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93 - Huntsman pleased with Obama
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