Washington — Treasury Secretary Henry Paulson confirmed Wednesday what many industry observers had begun to suspect—the government is abandoning its plan to buy troubled assets from banks.

The news brought criticism from several quarters, including lawmakers who saw it as a missed opportunity, bankers who said they have whiplash from the Treasury's about-face, and industry observers who praised the move but openly doubted the professed rationale for it.

Register or login for access to this item and much more

All Digital Insurance content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access