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Bush Announces Moves To Steady Banking Sector

NPR | By Jim Zarroli,
Renee Montagne
Published October 14, 2008 at 9:54 AM EDT

President Bush announced a $250 billion plan Tuesday in which the government will buy shares in the nation's banks. He vows that a massive purchase of stock in nine major U.S. banks will benefit the economy "by stabilizing the financial system." The president said the steps are not intended to take over the free market.

Copyright 2008 NPR
Jim Zarroli
Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.
See stories by Jim Zarroli
Renee Montagne
Renee Montagne, one of the best-known names in public radio, is a special correspondent and host for NPR News.