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Thursday, January 22, 2009

Obama administration prepares sweeping strategy to repair the economy

Obama administration prepares sweeping strategy to repair the economy
"...The second option would be to create a government-financed "bad bank" similar to the Resolution Trust Corp. of the savings-and-loan era. It would acquire troubled mortgage-backed securities and perhaps other assets from the banking sector. The goal would be to drastically reduce uncertainty about the health of the country's banks, allowing them to resume the kind of lending needed to revive the economy...."
Reference: www.latimes.com/

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