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Government Takes Stakes in Banks and Affected Firms
The United States has a history of government intervention in finance and industry, with precedents from wartime takeovers to the RTC rescues of failed S&Ls. Bush’s $250 billion bank plan joins moves by the Fed in AIG and Bear Stearns and the Fannie/Freddie backstops, framed as temporary to preserve the free market.
MENTIONED IN THIS ARTICLE
Washington
U.S
Amtrak
Bush
Federal Reserve
American International Group
Jpmorgan Chase
Truman
Supreme Court
National Railroad Passenger Corporation
Sand
S&ls
RTC
Reconstruction Finance Corp
Treasury
Henry Paulson
White House
Tony Fratio
The
Congress
Stillston Credit
Department of
Federal Treasury
Fed