Posted by Pin-Yu Liao
The Obama administration’s new plan to liberate the nation’s banks from a toxic stew of bad home loans and mortgage-related securities is bigger and more generous to private investors than expected, but it also puts taxpayers at great risk.
Taken together, the three programs unveiled on Monday by the Treasury secretary, Timothy F. Geithner, could buy up to $2 trillion in real estate assets that have been weighing down banks, paralyzing credit markets and delaying the economic recovery.
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