Paulson Amends TARP, Reshaping the Bailout
Nov 13th, 2008 | By Jason Simpkins | Category: Financial NewsU.S. Treasury Secretary Henry M. Paulson yesterday (Wednesday) announced a reshaping of the government’s $700 billion Troubled Asset Relief Program. Instead of purchasing troubled assets directly from banks, Paulson said the majority of the funds allotted to the Treasury Department would be used to purchase equity stakes in financial institutions and bolster the consumer credit market.