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U.S. considers buying stakes in banks |
Baja Real Estate & Economy News
 (CNN) -- The U.S. Treasury Department is looking at buying equity stakes in some of the nation's banks, according to White House spokesperson Dana Perino.
She confirmed reports that the United States could soon join the United Kingdom, Iceland and Italy in announcing a plan to inject capital directly into their troubled banking systems.
"These capital injections are something that Secretary (Henry) Paulson is actively considering," said Perino. She said she could not comment on the timing or extent of such investments.
The move would be made under the $700 billion Wall Street bailout passed by Congress on Friday.
Trading on Wall St. began optimistically before slipping back into the red Thursday, dragging European markets down further amid the continuing economic turmoil.
he Dow Jones made a strong start, jumping 100 points in early trading, before falling back.
Major indexes in Europe spent the day in positive territory until Wall St. started to slip.
London's FTSE 100 was down 1.24 percent, France's CAC-40 down 1.55 percent and Germany's Dax lost 2.53 percent.
Overnight, the European Central Bank said it was making a further $70 billion available to the financial sector. The Bank of England and the Swiss National Bank also offered $10 billion each.
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