Good number of banks want equity: Paulson

Thu Oct 16, 2008 10:29am EDT
 
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WASHINGTON (Reuters) - Treasury Secretary Henry Paulson on Thursday said that there were plenty of other banks interested in an equity injection under the government's $700 billion financial rescue plan.

"We got nine banks to sign up initially and we're going to be going out broadly. And you know, we have we have interest from a good number of other banks," he told Fox Business News in an interview.

Paulson on Tuesday persuaded the country's nine largest banks to accept a total tax-payer equity injection of $125 billion to recapitalize the banking system and confront a global credit crisis..

"We took unprecedented actions on a case by case basis...now we're going to the heart of the problem. We're taking a systemic approach. These are bold actions. I'm confident they're the right actions," he said.

(Reporting by Alister Bull; Editing by Theodore d'Afflisio)

 
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