“A very strong statement of support for the housing market”
By David Lightman
RISMEDIA, Nov. 25, 2008-(MCT)-Treasury Secretary Henry Paulson, warning that “millions of Americans cannot find affordable financing for basic credit needs,” announced a major expansion of the federal bailout on today as much as $800 billion to make mortgages and consumer credit more available and affordable.
The government will buy up to $600 billion in mortgage-backed assets, and, in a separate action, lend up to $200 billion to investors who have bought securities backed by consumer loans such as credit cards, auto and student loans, in a bid to free up consumer credit. for more... http://rismedia.com/wp/2008-11-25/news-alert-paulson-unveils-800-billion-plan-to-ease-credit-crunch/
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