Wall Street extended its advance to a third day Tuesday after the government announced it is readying a program to aid companies that issue credit cards, make student loans and finance car purchases.
The Treasury Department and the Federal Reserve said they plan to provide $800 billion to help unfreeze the market for consumer debt and to make mortgage loans cheaper and more available. The program is aimed at reviving moribund credit markets.
The government, while looking to reduce fear in the credit markets, is eager to see lenders like credit card companies resume more normal levels of lending to help stimulate the economy. Since September, when credit …
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