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Obama team weighs government bank to ease crisis

Posted By admin On January 18, 2009 @ 8:53 am In Featured Stories | Comments Disabled

Tim Ahmann
Reuters [1]
Sunday, Jan 18, 2009

The incoming Obama administration is considering setting up a government-run bank to acquire bad assets clogging the financial system, a person familiar with the Obama team’s thinking said on Saturday.

The U.S. Federal Reserve, Treasury and Federal Deposit Insurance Corp have been in talks about ways to ease a banking crisis that is once again deepening — and a government-run “aggregator bank” is among the options.

Outgoing Treasury Secretary Henry Paulson and FDIC Chairman Sheila Bair both said on Friday a government bank was one of a number of ideas U.S. regulators had been discussing.

(Article continues below)

Obama team weighs government bank to ease crisis 161008pptv2 [2]

The source said advisers to President-elect Barack Obama, who takes office on Tuesday, were also considering the idea of an aggregator bank among a range of options that could be pursued.

David Axelrod, a top adviser to Obama, told Reuters the new administration would have something to say about a fresh approach to the financial crisis in “the next few days.”

Full article here [1]


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URLs in this post:

[1] Reuters : http://finance.yahoo.com/news/Obama-team-weighs-government-rb-14091318.html

[2] Image: http://www.prisonplanet.tv/subscribe.html

[3] Obama backs global response to crisis: advisers: http://www.prisonplanet.com/obama-backs-global-response-to-crisis-advisers.html

[4] Obama team will get crisis training to prepare for terrorist attacks: http://www.prisonplanet.com/obama-team-will-get-crisis-training-to-prepare-for-terrorist-attacks.html

[5] ‘Bad Bank’ Just One Option Considered To Save Financials: http://www.prisonplanet.com/bad-bank-just-one-option-considered-to-save-financials.html

[6] Obama sets about choosing his team: http://www.prisonplanet.com/obama-sets-about-choosing-his-team.html

[7] Banking crisis: Central banks pump billions in to ease the strain: http://www.prisonplanet.com/banking-crisis-central-banks-pump-billions-in-to-ease-the-strain.html

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