Wednesday, Sep 24, 2008
More thinking required, more open debate
Council on Foreign Relations: The Good and the Bad of the Bailout Plan
Steil proposes a different plan. Under his plan, financial institutions that wanted to sell mortgages would come to the Treasury, ask for their mortgage-backed assets to be evaluated, and pay a fee to have them evaluated. The Treasury would then classify the assets based on the evaluation and would offer to buy the assets at prices based on what tier they are in. The firms holding the assets would then be able to choose whether to sell them to the federal government, or could attempt to sell them to other investors through the open market.
Posted by last_days_of_disco @ 10:16 PM (227 views) Add Comment
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