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A free floating commentary on culture, politics, economics, and religion based on a passionate commitment to the truth and a desire graciously to refute that which is contrary to it….
"He must hold firm to the sure word as taught, so that he may be able to give instruction in sound doctrine and also to confute those who contradict it."
--Titus 1:9, Revised Standard Version
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Timothy Geithner Says Some Banks to Need ‘Large Amounts’ of Assistance
U.S. Treasury Secretary Timothy Geithner said some financial institutions will need substantial government aid, while warning against any attempt to tax investors who join a federal program to buy tainted assets from banks.
“Some banks are going to need some large amounts of assistance,” Geithner said today on the ABC News program “This Week.” The terms of a $500 billion public-private program to aid banks “cannot change” for investors or they’ll lose confidence in the plan, he said on NBC’s “Meet the Press.”
Read it all.
Filed under: * Economics, Politics • Economy • The 2009 Obama Administration Bank Bailout Plan • The Credit Freeze Crisis of Fall 2008/The Recession of 2007-- • The U.S. Government • Treasury Secretary Timothy Geithner
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