US Aims $800 Billion At Consumer Lending

Law360, New York (November 25, 2008, 12:00 AM EST) -- Taking aim at the liquidity problems plaguing small businesses, ordinary consumers and students in the wake of the financial crisis, the government has announced $800 billion in initiatives seeking to bolster the ability of consumers and small-business owners to obtain credit.

The programs focus on unfreezing the asset-backed securities market, which typically boosts the ability of financial institutions to free up capital to do more lending. But that market, as Treasury Secretary Henry Paulson noted Tuesday, came to a halt in October, as financial institutions became...
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