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The Geithner Plan

posted 772 weeks ago on

The Washington Post: Treasury Secretary Timothy F. Geithner this morning announced an aggressive and multi-faceted program that could commit $1.5 trillion or more in public and private funds to rescue banks and financial institutions and thaw frozen credit markets. The gravity of the financial crisis confronting the Obama administration was brought into stark focus as Geitner unveiled a financial stability plan that would more closely scrutinize the risks banks are facing and offer public and private capital to those that need it; create a fund, with a starting value of $500 billion, to buy up toxic real estate loans; and commit up to $1 trillion to reopen lending markets for consumer, student, small business, auto and commercial loans. Geithner said the administration was also working

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