Posted AT 9:27 PM EST on 20/09/08
White House hopes for bailout deal by Monday
WASHINGTON — The Bush administration asked Congress on Saturday for the power to buy $700-billion (U.S.) in toxic assets clogging the financial system and threatening the economy as negotiations began on the largest bailout since the Great Depression.
The rescue plan would give Washington broad authority to purchase bad mortgage-related assets from U.S. financial institutions for the next two years.
The full text of this article has 1011 words.
To continue reading this article, you will need to purchase this article.
Already have a member account? Login now
Pay-Per-View Offers To read the complete article, select one of the following options
Purchasing from globeandmail.com is quick and secure.
