CORRECTED-OFFICIAL-U.S. Treasury says bought $3.84 bln in fresh bank

Friday, 12 December, 2008.

The U.S. Treasury Department bought $3.84 billion of stakes in 35 banks across the country under its emergency program to give finance companies a boost and stabilize markets, the Treasury said in a statement on Tuesday.

Treasury has committed to spend up to $250 billion buying bank capital under its broader $700 billion kitty to stabilize financial markets. Treasury said that it has now spent $165.3 billion of the money allotted for banks.

Source: http://www.forbes.com/