Treasury Lays Out Plan to Improve Financial Stability
The head of the government's $700 billion financial rescue plan said that officials are assembling a "tool kit" of methods to implement the program, including investing money directly into banks and buying individual mortgages from them.
Staff writer Peter Whoriskey reports on the 8 a.m. speech by Neel Kashkari, interim assistant secretary for financial stability.
Kashkari said a team is being assembled and hopes to move quickly to improve conditions that have left the country's credit markets "extremely impaired."
Among the measures Treasury is working on is a plan to purchase mortgage backed securities, to purchase whole loans from banks, and to insure "troubled assets," as well as a plan to purchase an equity stake in some institutions.
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Posted by: Night Mayor | October 13, 2008 11:56 AM
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