U.S. plans to quickly buy stakes in range of banks

Treasury Secretary Henry Paulson is working with top aides to determine how to structure purchases of stakes in domestic banks. The move is a departure from the original focus of the $700 billion rescue package, although the Treasury still intends to buy banks' troubled assets. SIFMA President and CEO T. Timothy Ryan also noted the Treasury Department's effort to build an international response to the current crisis. "There is obviously concerted action among at least a few of the large developed countries to deal with the confidence issue in the financial markets," Ryan said.

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