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: The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C.

Fed to Banks: "Lend Money"

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From the Associated Press via Yahoo! News: "Paulson says troubled assets will not be purchased," by Martin Crutsinger--

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.

--Posted by Alton Illinois personal injury lawyers and the Edwardsville  Illinois truck accident attorneys of Schaeffer & Lamere, P.C., handling Illinois Alton car accident, Illinois personal injury, products liability, workers' compensation, medical malpractice, Alton truck accidents, and all other types of injury cases.

Full post as published by The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C. on November 12, 2008 (boomark / email).

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