Geithner expected to unveil ambitious bank-rescue plan

02/6/2009 | USA Today

Treasury Secretary Timothy Geithner next week is expected to explain the government's strategy for getting credit moving, helping the banking sector and thus the overall economy. The Treasury's plan appears to include a number of approaches, including establishing a "bad bank" to buy up toxic assets from financial institutions. "We're supportive of the creation of a bad bank to buy illiquid and nonperforming assets," said Scott Talbott, senior vice president of government affairs at the Financial Services Roundtable.

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