Posted on 10/09/2008 4:25:01 AM PDT by RaceBannon
U.S. May Take Ownership Stake in Banks Treasury Dept. Would Hope to Spur Lending By EDMUND L. ANDREWS and MARK LANDLER Treasury officials say the just-passed $700 billion bailout bill gives them the authority to inject cash into banks that request it.
Q & A: The Feds Rate Cut Times Topics: Credit Crisis The Essentials
(Excerpt) Read more at nytimes.com ...
U.S. Treasury Considers Buying Stakes in Banks
New Tack Comes Amid World-Wide Emergency Rate Cuts
http://online.wsj.com/article/SB122355427239518855.html#
One of the chief threats to the global economy is that banks and other financial institutions are hoarding cash, which makes it harder for businesses and households to finance their day-to-day affairs.
Treasury wants to design something voluntary that encourages healthy institutions to participate. It is discussing whether to buy preferred stock or find some other way to inject capital into the firms.
In remarks to reporters on Wednesday, Mr. Paulson said its new authority extends beyond just mortgage-related assets to "any other troubled assets that the Treasury and the Federal Reserve deem necessary to promote financial market stability."
Are you 10 tears old?
That's why the govt. should have let those that made bad decisions pay the price for them. The only thing the govt. should have done is change the accounting rules and insured the performance of the mortgages.
The market is just beginning to tighten up. Citicorp has announced they are getting out of the secondary market. How long till the other big players do the same? Does anyone believe banks are going to make any loans to anyone/business without them being AAA.
IOW, the problem will get worse and those that helped create this mess will be in a position to assert more control over the financial markets.
I'd have to disagree..... more like a Fart in The Wind.
Yes, Bilderberg.
http://nosheepleshere.blogspot.com/2008/08/barack-bilderberg-group-and-new-world.html
Well, the markets didnt react well to the bailout, and they definitely didnt like this announcement in The Slimes today.
But that isnt stopping the seemingly inexorable march towards Socialism, instigated by the powers that be.
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