For the Record - Sept. 30, 2008
U.S. rescue package: An article in Section A on Sunday about the prospects of the federal government turning a profit from a bailout deal used the term “reserve auction” to describe the government’s purchase of mortgage bonds. The correct term is reverse auction: Each bank hoping to sell mortgage bonds to the government would state the lowest price it would accept and the government would buy first from banks offering the lowest price.
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