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US Treasury secretary Hank Paulson, backed by US president George W. Bush, presented Congress with a brief outline of proposed legislation authorizing him to spend $700bn buying mortgage-related debt from troubled financial institutions to stabilize the financial system.

• Paulson plan via New York Times 
• Treasury fact sheet 

19 Sep 2008 -

Trust but verify

19 Sep 2008 -

Many thanks, Uncle Sam

19 Sep 2008 -

Can’t just kiss it better