Advertisement

For the Record - Sept. 30, 2008

Share

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.

Advertisement