Opinions continue to vary as to how exactly the $700 bailout will be used. The original plan was to buy the securities that were backed by the soured mortgages at a rate slightly higher than the current price from the collapsing banks so as to thaw the frozen credit market. Then it was said that [...]

Marengo based Linden Lumber business concern has been able to avoid the crisis of foreclosure by arranging for and repaying a debt of $5 million. This was stated by Federal Land Bank last Friday. The representative of the bank said that a new settlement has been arrived at regarding repayment of the $5 million dues. [...]