More bailout detail coming soon
The god-awful reaction to Bailout 2.0 has prompted Treasury Secretary Tim Geithner to arrange for another release, this one with more details, reports CNBC. The critics were pretty savage in attacking the new secretary for what some thought was shocking lack of details.
The biggest issue remains the "bad bank" concept and how specifically bad banks will be able to dump some of their most toxic assets into an aggregate bank to be run in partnership with private institutions. There's a lot riding on how assets will be valued and thus what kind of losses would be forced to take. Stay tuned, because details are expected early this week.
For more:
- here's a CNBC article
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Tim Geithner news from FierceFinance




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