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Friday, October 03, 2008


house approves TARP

via bloomberg. following on the senate assent, this will now go to the president. it should take some weeks to get the program structured.

``The issue is stopping the panic,'' said Adam Posen, deputy director of the Peterson Institute for International Economics in Washington. ``The plan's not perfect, but it's certainly better than doing nothing. Now Treasury has to be very aggressive about purchasing a wide range of assets very quickly.''

UPDATE: president bush signed it this same day.

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