Some lenders to need much government aid, Geithner warns

03/30/2009 | Bloomberg

Terms of the public-private program to buy troubled assets from banks "cannot change," or investor confidence in the plan will plunge, U.S. Treasury Secretary Timothy Geithner said. He also said some lenders will need "large amounts of assistance." About $135 billion remains in the government's financial-stability fund, Geithner said, but he declined to say whether additional funding will be requested. "If we get to that point, we'll go to the Congress and make the strongest case possible and help them understand why this will be cheaper over the long run to move aggressively," he said.

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