We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

White House Says Govt. May Buy Into Private Banks

Law360 (October 9, 2008, 12:00 AM EDT) -- As part of a sweeping economic bailout plan signed by President Bush on Friday, the federal government is “actively considering” taking equity stakes in major U.S. banks, White House spokeswoman Dana Perino said Thursday.

The possibility of the government buying into the private banking system was included in the rescue package that the president supported, and it gave U.S. Treasury Secretary Henry Paulson a range of possibilities.

“Investing in banks directly was one of those authorities," Perino said at a White House briefing on Thursday....
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.