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Archive Home > 2008 > September > 20 > Rescue might cost U.S. $500B

Rescue might cost U.S. $500B

By Edmund L. Andrews / The Bulletin
September 20, 2008

WASHINGTON — The Bush administration, moving to prevent an economic cataclysm, urged Congress on Friday to grant it far-reaching emergency powers to buy hundreds of billions of dollars of distressed mortgages despite many unknowns about how the plan would work.

Henry Paulson, the....

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