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Bank Executives Agree To Accept Taxpayer Investments

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Executives at nine of the nations largest banks have agreed to accept direct investments of taxpayer dollars, launching a plan that could ultimately give the government an ownership stake in a broad range of financial institutions, according to senior executives in the banking industry.

The Treasury Department is planning to spend up to $250 billion on ownership stakes under the rescue package that was approved by Congress and signed into law earlier this month, sources familiar with the matter said today.

Read the whole story at Washington Post