HORSHAM, England (Reuters) - The Treasury will offer more details in the coming week about how proposed public-private partnerships to take bad assets off banks' books will work, a senior department official said on Saturday.
The proposal for such partnerships was first made by Treasury Secretary Timothy Geithner in February but the lack of detail about them at the time disappointed financial markets led to a sharp drop in stock prices.
Many analysts say the problem of toxic assets -- particularly mortgages gone bad as a result of the U.S. housing bust -- is at the heart of banks' reluctance to lend and must be dealt with before credit markets can operate normally again.
The Treasury official told reporters it wants to put out enough information in the coming week so that potential participants can better judge the proposal and it wants to indicate the timeframe within which it is expected to become operational.
Geithner, who was in southern England to meet finance ministers from Group of 20 nations, had indicated that something was likely soon but gave no details...
You, too, can be a weiner.
The Company doesn't care whether or not the recovery is real, only if the $ystem can make the Undead Empire walk.
No comments:
Post a Comment