Bush injects capital to save market

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U.S. President George W. Bush announces plans for massive capital injections for major banks "to ensure the viability of America's banking system". In a speech at the White House, Bush outlined unprecedented steps in dealing with the frozen credit markets. The administration plans to pump $250 billion in new equity, with most of the funds going to the top nine U.S. banks, according to people familiar with the plans.

Tags: George W. Bush, capital injections, banks

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