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Treasury Shifts Bailout Focus From Illiquid Assets

Law360 (November 12, 2008, 12:00 AM EST) -- The U.S. Treasury Department plans to move away from the purchase of illiquid assets and use the remaining funds from the government's $700 billion bailout to inject capital into the financial industry in order to promote lending to businesses and individuals, Secretary Henry M. Paulson Jr. said Wednesday.

While pointing out that the Treasury must remain ready to use funds to rescue troubled institutions — for example, the department's announcement Monday to purchase $40 billion in senior preferred stock in American International Group Inc. — Paulson...
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