WASHINGTON, Nov. 18 (UPI) -- U.S. Rep. Gary Ackerman, D-N.Y., accused Treasury Secretary Henry Paulson of a "bait-and-switch scheme" by changing plans for stabilizing the economy.
When Paulson asked Congress for the authority to act to stabilize the economy, he said part of the $700 billion package would be used to buy up "ill-liquid" assets but more recently he said he had abandoned that strategy in favor of injecting funds into banks.