Government decides Main Street should bail out Wall Street. Don't forget Paulson came from Goldman Sachs. How much will this all cost the taxpayer.
(Bloomberg) The U.S. government moved to cleanse banks of troubled assets and halt an exodus of investors from money markets in the biggest expansion of federal power over the financial system since the Great Depression.
``We're talking hundreds of billions,'' Treasury Secretary Henry Paulson said in a press conference. ``This needs to be big enough to make a real difference and get to the heart of the problem.''
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