States, private companies may be next for credit from Fed

10/6/2008 | Bloomberg

Effects from the Wall Street crisis are beginning to hit state and local governments and the private sector. Companies are tapping emergency credit lines, and some states are talking about needing federal loans to keep vital services, such as schools, roads and health care, in operation. Many in Congress are concerned that businesses unable to renew short-term loans will stall the economic engine.

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