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Politics : Formerly About Advanced Micro Devices

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From: Road Walker	11/12/2008 10:55:24 AM
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Making it up as they go along... Paulson says troubled assets will not be purchased By MARTIN CRUTSINGER, AP Economics Writer Martin Crutsinger, Ap Economics Writer 5 mins ago WASHINGTON – Treasury Secretary Henry Paulson says that the $700 billion government rescue program will not be used to purchase troubled assets as originally planned. Paulson says 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. He announced a new goal for the program to support financial markets, which supply consumer credit in such areas as credit card debt, auto loans and student loans.

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