News & Politics

Credit Crisis: The Story So Far


Henry Paulson announced today that a tenth of the $200 billion TARP funds for economic recovery will be devoted to “support consumer and small-business loans” — car loans, credit cards, and other non-mortgage equities. They’ll get more money and spend up to $600 billion to buy Fannie Mae, Freddie Mac, and other shaky government housing paper, the Secretary said.

This is just a little catch-up as we watch Obama’s noon speech on the economy.

This article from the Village Voice Archive was posted on November 25, 2008

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