In a significant shift, White House and Treasury Department officials now say they can stretch what is left of the $700 billion financial bailout fund further than they had expected a few months ago, simply by converting the government’s existing loans to the nation’s 19 biggest banks into common stock.U.S. May Convert Bank Bailouts to Common Stock - NYTimes.com
Converting those loans to common shares would turn the federal aid into available capital for a bank — and give the government a large ownership stake in return.
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