Posted on 03/23/2009 2:28:17 AM PDT by Fred
WASHINGTON (MarketWatch) -- U.S. Treasury Secretary Timothy Geithner will on Monday provide details about the government's latest plan to help rid banks of toxic assets clogging the financial system.
The Treasury Department said in a press release that it will hold the briefing at 8:45 a.m. EDT on Monday. The Treasury Department's program involves setting up a new investment fund to buy mortgage-related securities and other assets weighing down bank balance sheets. The new Public Private Investment Program would combine taxpayer money with private funds, aiming to buy loans and free up banks to renew lending.
The Wall Street Journal earlier reported that the Treasury could announce the new three-part plan as early as Monday.
(Excerpt) Read more at marketwatch.com ...
well, Wall Street seems giddy as a schoolgirl over this. Check the futures.
on Monday provide details about the government’s latest plan to help rid banks of toxic assets
.
Offer more tax payer money for bad investments, nobody needs Giethner to tell them that
Well why not? All of the benefits none of the responsibilities.
I was thinking of a different White Star Lines ship -- the Lusitania.
When did preserving the status quo of the economy, rather than protecting the value of the U.S dollar become the main priority of Treasury?
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.