Panel says U.S. guaranteed as much as $4.3 trillion in assets
The Congressional Oversight Panel said asset guarantees, as much as $4.3 trillion worth, by the Federal Reserve, the Treasury and the Federal Deposit Insurance Corp. helped calm markets. Most of the funds -- at one point as much as $3.217 trillion -- went toward a guarantee program on money-market mutual funds. The panel said the Treasury has improved its tracking of the funds and noted that there are no major flaws with the program. Reuters (11/06), New York Times, The (11/06)