Bair: Purge of troubled assets would restore confidence

03/10/2009 | Washington Post, The

While the plan to strip troubled assets from financial institutions might force them to record losses, it could also boost confidence in the U.S. banking system, said Sheila Bair, chairwoman of the Federal Deposit Insurance Corp. She also said the program might require more than the $700 billion approved to rescue the banking industry, but taxpayers would likely reap profit eventually.

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