Schumer: bad bank estimates go up to $4 trillion

Reuters on Yahoo ^ | 1/29/09 | Reuters

[NormsRevenge]

WASHINGTON (Reuters) – The cost of the government setting up a "bad bank" to buy up toxic assets from struggling U.S. banks could range as high as $4 trillion, according to some experts, Sen. Charles Schumer said on Thursday.

...

"I've talked to various experts. The estimates vary, from one to four," the Senate Banking Committee member said.

Asked if banks need $2 trillion to $3 trillion in additional bailout funds, Schumer said: "No, not necessarily."

[Lurker]

You're sure about that?

The current one? Youbetcha.

L

[CPT Clay]

Shumer: The Ex- employees of IndyMac Bank would like a word with you.

[Ernest_at_the_Beach]

Damn...say it ain’t so...George..