- The Washington Times - Sunday, March 22, 2009

WASHINGTON (AP) - A top adviser to President Barack Obama says the government plans to leverage $100 billion to ease the fallout on the nation’s financial system from banks’ bad assets.

Christina Romer says the money would be used along with private investments and help from the Federal Reserve to buy hundreds of billions in questionable debts on bank balance sheets. The goal is to thaw the frozen credit system and get lending going again.

Romer says the approach is one more piece in the administration’s plan to revive the collapsing economy. Romer says she did not think Monday’s expected announcement would cause the same kind of stock market plunge that greeted Treasury Secretary Timothy Geithner’s original discussion of the plan last month.

Romer appeared Sunday on CNN’s “State of the Union.”

Copyright © 2018 The Washington Times, LLC. Click here for reprint permission.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.

 

Click to Read More

Click to Hide