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Obama Approach To Bailout Plan Still Open Question

Law360 (November 7, 2008, 12:00 AM EST) -- As the U.S. Treasury Department takes flak from lawmakers over its management of the government's bailout program, questions abound over just what direction an Obama administration could take a Treasury that now comes with broad new authority to command a $700 billion rescue plan.

On Wednesday, Treasury Secretary Henry Paulson confirmed that the Treasury was abandoning its initial plan to buy up toxic assets, in favor of following the strategy the agency has pursued more recently of taking equity stakes in financial institutions.

The switch sparked...
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