Posted on 13/11/08
Paulson flip casts doubt on bailout
WASHINGTON -- The U.S. government has abruptly scrapped a plan to buy up toxic mortgages in the latest metamorphosis of its troubled $700-billion (U.S.) bank rescue.The change of plan helped send the Dow Jones industrial average tumbling more than 411 points yesterday to 8,282.66 as investors fretted that authorities still don't have a grip on the credit crisis.
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