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WASHINGTON: The chief executives of the nine largest banks in the United States trooped into a gilded conference room at the Treasury Department at 3 p.m. Monday. To their astonishment, they were each handed a one-page document that said they agreed to sell shares to the government, then Treasury Secretary Henry Paulson Jr. said they must sign it before they left.
All told, the potential cost to the government of the latest bailout package comes to $2.25 trillion, triple the size of 700BLN
"I don't think we need to be talking about this a whole lot more," Lewis said, according to a person briefed on the meeting. "We all know that we are going to sign."