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Is the US planning to Nationalise its Banks? Its looking a lot like socialism [some say communism] to many on the republican side of US politics, but deregulation and lax practices and auditing have left many US and European banks without liquidity, and that's the big problem that isn't going away according to Mr Mortgage.
US Treasury Secretary Henry Paulson is weighing plans for the US government to invest in banks as the next step in trying to resolve the deepening credit crisis.
These capital injections are something that Secretary Paulson is actively considering,
White House Press Secretary Dana Perino said in a briefing in Washington. She also said President George W. Bush will meet with Group of Seven finance ministers at the White House on October 11.
Paulson told reporters in Washington on Wednesday that legislation Congress passed last week to rescue financial institutio...
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