Monday, October 13, 2008


WASHINGTON -- The U.S. government is set to buy preferred equity stakes in nine top financial institutions as part of its new comprehensive plan to tackle the credit crisis, according to people familiar with the situation. It's unclear how much would be invested in each institution. The move is designed to remove any stigma that might come with a government investment. Not all of the banks involved are happy with the move but agreed under pressure from the government.