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Page last updated at 14:57 GMT, Tuesday, 14 October 2008 15:57 UK

US unveils $250bn banking plan

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The US government has announced a $250bn (£143bn) plan to purchase stakes in a wide variety of banks in an effort to restore confidence in the sector.

President George W Bush said the move would help to return stability to the US banking sector and ultimately help preserve free markets. Laura Trevelyan reports.

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