Reuters reports:
The U.S. Treasury Department is considering using more of its $700 billion rescue fund to buy stakes in a broad range of financial companies, not just banks and insurers, after tentative signs of the program's success, the Wall Street Journal said, citing people familiar with the matter.We wonder if The Tribune Company and The New York Times are going to be a part of the bailout package.Especially after their hard work this election season.Is MSNBC more on the government pad than you think?
In focus are companies that provide financing to the broad economy, including bond insurers and specialty finance firms such as General Electric Co's (GE.N) GE Capital unit, CIT Group Inc (CIT.N) and others, the people told the paper.
Treasury may also scrap part of its early plan of purchasing assets through an auction process and instead purchase some distressed assets directly, the paper said citing people familiar with the matter.
