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Secretary Paulson Discusses Announcement to Support Consumer Lending Market
Washington (Nov. 25)—Treasury Secretary Henry M. Paulson, Jr. discussed at a press conference this morning the announcement of $20 billion to back a lending facility for the consumer asset backed securities market established by the Federal Reserve Bank of New York. The announcement is available via webcast here. The asset backed securities market provides liquidity to financial institutions that provide small business loans and consumer lending such as auto loans, student loans, and credit cards. (More)
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