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US to revamp credit rules, drawing from crisis lessons

Paulson plan seeks to tame excesses in mortgage market

The nation's top economic policy makers plan to release today their broadest blueprint yet for avoiding a recurrence of the credit crunch now threatening the economy.

Their recommendations extend to nearly every niche in the credit markets - from mortgage brokers to the Wall Street firms that package home loans into securities, to the credit-rating firms that assess the risk of those securities, to the regulators who police the system.

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