Breaking News Alert The New York Times Wednesday, October 8, 2008 -- 9:40 PM ET ----- Treasury Department May Take Ownership Stake in Banks Having tried without success to unlock frozen credit markets, the Treasury Department is considering taking ownership stakes in many United States banks to try to restore confidence in the financial system, according to government officials. Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash directly into banks that request it. Such a move would quickly strengthen banks' balance sheets and, officials hope, persuade them to resume lending. In return, the law gives the Treasury the right to take ownership positions in banks, including healthy ones. Read More: http://www.nytimes.com/?emc=na ----- Now get the New York Times Breaking News to your mobile phone. Sign up for the alerts by texting NEWSALERTS to 698698 (NYTNYT). ----- About This E-Mail You received this message because you are signed up to receive Breaking News Alerts from NYTimes.com. To unsubscribe, change your e-mail address or to sign up for daily headlines or other newsletters, go to: http://www.nytimes.com/email NYTimes.com 620 Eighth Ave. New York, NY 10018 Copyright 2008 The New York Times Company
-- Posted By Breaking News to Break News at 10/09/2008 04:40:00 AM
