Treasury Secretary Henry Paulson announces plan to recapitalize banks, thaw credit markets with bailout money.
They also come as Neel Kashkari, the newly-appointed Treasury Department official tasked with managing the 700-billion-dollar US rescue package, unveiled plans for the US government to buy stakes in several banks, in the latest move to combat the worst global financial crisis since the 1930s.
The Wall Street Journal reported Monday on its website, citing people familiar with the matter, that the plan calls for the Treasury to take about 250 billion dollars in equity stakes in potentially thousands of banks across the country including several of the nation's largest banking institutions.
Which banks may get the most under the Paulson plan:
Citigroup gets $25 billion
J.P. Morgan gets $25 billion
Wells Fargo gets $20 billion
Bank of America gets $12.5 billion
Merrill Lynch gets $12.5 billion
Goldman Sachs gets $10 billion
Morgan Stanley gets $10 billion
State Street Bank gets $3 billion
Bank of New York gets $3 billion
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