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.
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As Americans head to the polls in 2024, the very future of our country is at stake. At HuffPost, we believe that a free press is critical to creating well-informed voters. That's why our journalism is free for everyone, even though other newsrooms retreat behind expensive paywalls.
Our journalists will continue to cover the twists and turns during this historic presidential election. With your help, we'll bring you hard-hitting investigations, well-researched analysis and timely takes you can't find elsewhere. Reporting in this current political climate is a responsibility we do not take lightly, and we thank you for your support.
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