Wednesday, Feb 11, 2009
A financial system tottering under the weight of bad mortgages ???
Reuters via yahoo/sott: U.S. offers $2 trillion bank plan but stocks slump
WASHINGTON (Reuters) – U.S. Treasury chief Timothy Geithner on Tuesday unveiled a new bank rescue plan that would put $2 trillion to work mopping up bad assets and restoring credit, but stock markets plunged on fears it would not work.
Global markets had intensely awaited Geithner's ideas for a plan mixing private and public funding to stabilize a financial system tottering under the weight of bad mortgages, but were disappointed over the scant detail he provided.
Posted by troy @ 04:47 AM (201 views) Add Comment
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