- The Washington Times - Sunday, March 15, 2009

WASHINGTON (AP) - Give the White House some time to develop a plan to buy banks’ toxic assets.

That’s the plea from Rep. Barney Frank, who heads the House Financial Services Committee,

The Massachusetts Democrat is defending the time it’s taken the Obama administration to develop a government partnership with private investors to remove the bad assets from banks’ balance sheets.

Frank says Obama deserves to take a few more weeks if necessary to reveal his proposal, which is considered necessary to stabilize struggling banks.

Treasury Secretary Tim Geithner said last week the banking plan will be released in the next two weeks. The administration believes financial institutions will increase lending if they can get rid of bad loans and other troublesome assets.

Frank was on “Fox News Sunday.”



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