Paulson endorses bank stock purchase plan - WSFA.com Montgomery Alabama news.

Paulson endorses bank stock purchase plan

WASHINGTON (AP) - Treasury Secretary Henry Paulson says the administration will move ahead with a plan to buy stock in financial institutions.

Paulson said Friday the program to purchase stock in financial institutions will be open to a broad array of institutions.

The administration received authority to make direct purchases of stock in banks in the $700 billion financial rescue bill Congress passed last week.

(Copyright 2008 by The Associated Press. All Rights Reserved.)

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