AP: Treasury's toxic asset plan could cost $1 trillion

The Obama administration’s latest attempt to tackle the banking crisis and get loans flowing to families and businesses rely on a new government entity, the Public Investment Corp. to help purchase as much as $1 trillion in toxic assets on banks’ books.

The plan that Treasury Secretary Timothy Geithner intends to announce Monday aims to use the resources of the $700 billion bank bailout fund, the Federal Reserve and the Federal Deposit Insurance Corp.

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Posted in * Economics, Politics, Economy, Federal Reserve, Office of the President, Politics in General, President Barack Obama, The 2009 Obama Administration Bank Bailout Plan, The Banking System/Sector, The National Deficit, The U.S. Government, Treasury Secretary Timothy Geithner

3 comments on “AP: Treasury's toxic asset plan could cost $1 trillion

  1. tgs says:

    Another trillion dollar plus spending, power grabbing plan that will pass through congress and be signed by the president with nothing but superficial opposition. May God help this country.

  2. jkc1945 says:

    All through the year of campaigning that preceded the election, I waited and waited with growing anticipation, as I began to see that the nation was, for some reason totally unfathomable to me, going to elect this man to the current presidency. What did I wait for? The day when I could begin to say: “Don’t blame me – – I sure as heck didn’t vote for him!”

  3. Dave B says:

    jkc1945- I wrote letters to the editor, and discussed it with as many people as I could. President Obama has no management experiance and wasn’t “vetted” by the press. The only thing Obama did prior to the election was vote for abortions! Obama will spend the same amount of money in two years that it took Bush eight years to spend!