FDIC Shelves Toxic Loan Plan
http://money.cnn.com/2009/06/03/news/fdic.toxicity.fortune/?postversion=2009060317
The US regulators have shelved a plan to sell off the toxic assets of the country’s banks. The Federal Deposit Insurance Corp (FDIC) has decided to postpone the sale of toxic bank assets under its Legacy loans program and review the strategy again before going ahead. The plan involved offering low cost financing to private investors seeking to purchase troubled financial assets. The program was unveiled as part of Obama administration’s efforts to put the country’s banking system on track. However, the results of the stress tests conducted by the government on the various banks has revealed that the overall financial health of the US banks is not that bad. Infact, several banks have been able to raise a total of $85 billion in recent weeks and this reflects improving investor confidence.
Subscribe to:
Post Comments (Atom)
I just want to say that It was very good post, it helped me in finding a good affiliate,
ReplyDeleteAnnuity Quotes