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February 24, 2009

Admin Paves Way to Nationalizing Banks
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The Obama administration has taken further steps toward the possible
nationalization of troubled banks. On Monday, the White House changed
the terms of government bailouts to allow financial firms to repay loans
with common stock instead of cash. That would increase the government’s
chances of taking controlling ownership. The government has already
invested nearly $200 billion in over 400 banks, including $45 billion in
Citigroup.



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