- The Washington Times - Sunday, March 22, 2009

WASHINGTON (AP) - The Obama administration says it needs help from private investors to deal with a serious banking crisis.

The head of the president’s Council of Economic Advisers says that the government needs investors to come in and help buy up bad assets that are weighing on banks’ balance sheets and keeping banks from lending to consumers and businesses.

Christina Romer says the administration’s new plan will team up with the private sector and the Federal Reserve and the Federal Deposit Insurance Corp. to make a limited amount of government bailout money go farther. The plan could be announced as early as Monday.

Romer spoke on “Fox News Sunday.”

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