TV News LIES

Wednesday, Oct 22nd

Last update11:02:40 PM GMT

You are here News Economy Treasury to Invest in `Healthy' Banks, Kashkari Says

Treasury to Invest in `Healthy' Banks, Kashkari Says

E-mail Print PDF

Neel Kashkari, the U.S. Treasury official overseeing the $700 billion rescue of the financial system, said government equity injections will be aimed at ``healthy'' firms.

``We are designing a standardized program to purchase equity in a broad array of financial institutions,'' Kashkari, who heads the department's Troubled Asset Relief Program, said in a speech in Washington. ``The equity purchase program will be voluntary and designed with attractive terms to encourage participation from healthy institutions.''

U.S. officials are hurrying to address frozen credit markets that led France, Germany, Spain, the Netherlands and Austria to agree to commit $1.8 trillion to guarantee interbank loans and take equity stakes in banks. Buying shares of financial institutions has become the latest focus of Treasury Secretary Henry Paulson's rescue plan.

``While the U.S. tends to shy away from nationalizing or even partially nationalizing its financial institutions, it would appear that it has no choice but to follow suit,'' Win Thin, a senior currency analyst with Brown Brothers Harriman & Co. in New York, said in a research note today.

TVNL Comment: As predicted...this is a takeover, not a rescue. This is a wealth undistribution.

More...


Most Recent Related Stories...


Yellen says US experiencing widening inequality

Janet YellenFederal Reserve Chair Janet Yellen said Friday that the last several decades have seen the most...

German downturn casts shadow over world economy

German economy turns downwardAs if the global economy didn't have enough troubles, it looks like Germany, Europe's traditional growth...

Banks accept derivatives rule change to end 'too big to fail' scenario

London financial districtThe $700 trillion financial derivatives industry has agreed to a fundamental rule change from January to...

Hewlett-Packard to split into two public companies, lay off 5,000

hewlett packardHewlett-Packard Co (HPQ.N) said it would split into two listed companies, separating its computer and printer...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!