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Bush Announces Moves To Steady Banking Sector

President Bush announced a $250 billion plan Tuesday in which the government will buy shares in the nation's banks. He vows that a massive purchase of stock in nine major U.S. banks will benefit the economy "by stabilizing the financial system." The president said the steps are not intended to take over the free market.

Copyright 2008 NPR

Jim Zarroli
Jim Zarroli is an NPR correspondent based in New York. He covers economics and business news.
Renee Montagne
Renee Montagne, one of the best-known names in public radio, is a special correspondent and host for NPR News.