Paulson says stock purchases should make money - Toledo News Now, News, Weather, Sports, Toledo, OH

Paulson says stock purchases should make money

WASHINGTON (AP) - Treasury Secretary Henry Paulson says government purchases of stock in banks represent an investment that should eventually make money for taxpayers.

Paulson said Monday the government will own shares in the banks that should be paid back with a reasonable return and the government will also receive warrants for common shares in the banks.

He made his comments as he announced a streamlined application process that banks can follow to apply to sell shares to the government by a deadline of Nov. 14.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Powered by Frankly