us economy: Obama's Bank Rescue Plan
- 02/08/09 11:31 AM
President Obama's bank rescue plan will be unveiled Tuesday by Treasury Secretary Timothy Geithner. The plan, scheduled to be released on Monday, was delayed due to the expected vote in the Senate on the latest Stimulus Package. The bank rescue plan is rumored to rely heavily on private sector funding backed by government guarantees and financing incentives. It may also include some of the $350 billion in unused T.A.R.P. money. The Obama administration has not ruled out the creation of a "Bad Bank", much like the one created during the Savings and Loan Crisis, to buy up illiquid assets on lenders … (8 comments)
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President Obama's bank rescue plan will be unveiled Tuesday by Treasury Secretary Timothy Geithner. The plan, scheduled to be released on Monday, was delayed due to the expected vote in the Senate on the latest Stimulus Package. The bank rescue plan is rumored to rely heavily on private sector funding backed by government guarantees and financing incentives. It may also include some of the $350 billion in unused T.A.R.P. money. 
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