Boots And Sabers

Administration To Unveil Toxic Debt Plan

By - Mar 22nd, 2009 04:27 pm
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It’s getting worse.

The Obama administration’s latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks’ books.

The new effort, to be unveiled Monday, will be followed the next day with release of the administration’s broad framework for overhauling the financial system to ensure that the current crisis — the worst in seven decades — is not repeated.

Categories: News & Views, Politics

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