Bank Bailout Plan 2: Private Funded Plan Stirs Up More Public Criticism
Monday, February 9th, 2009The government’s revised plan to relieve banks of toxic assets is the subject of an article in today’s New York Times.
The plan is to allow private investors, other than banks, to buy up the toxic assets. The government would set a floor value to help overcome any reluctance investors might have in purchasing the trouble assets.
There’s a lot pressure riding on this revised plan. Economists say that without a bailout plan that works, no stimulus plan is likely to have a long term effect.
