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US to buy shares in banks

The US will buy stocks in banks in a bid to return the nation's economy to the "path of growth and prosperity", President George Bush has said.

Mr Bush said the rescue plan was aimed at the "root cause" of the problem. He said buying shares in banks was "an essential short-term measure".

He also issued a temporary guarantee of "most new debt issued by insured banks" under the US's $700bn rescue plan.

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