The Bush administration sought unchecked power from Congress to buy $700 billion in bad mortgage investments from financial companies in what would be an unprecedented government intrusion into the markets.
Through his plan, Treasury Secretary Henry Paulson aims to avert a credit freeze that would bring the financial system and the world's largest economy to a standstill. The bill would prevent courts from reviewing actions taken under its authority.
Treasury Seeks Asset-Buying Power Unchecked by Courts
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Outrage mounted and questions remained unanswered after federal agents detained multiple people on Chinatown’s Canal Street...
