posted on Mar, 13 2009 @ 04:46 PM
Pleasant news for the weekend ride:
45% of world's wealth wiped out:
Tiny Tim (as Hx3 calls him) speaks again:
U.S. Treasury Secretary Timothy Geithner plans to unfreeze credit markets through a new program that will combine public and private capital in a fund
that would buy bank toxic assets of up to $1 trillion.
"In all likelihood, that will have the private sector buy troubled assets to clean the banks out in terms of providing leverage ... so that we can
get more money back into the banking system," Schwarzman said.
Now I'll REALLY be losing sleep! Public and Private capitol defined please?
Citi has gotten 45 freakin' billion dollars to date so let's all have a moment of silence in respect to the fact that they DON'T need any more!:
"Citi and other banks are waiting for the U.S. government to announce a plan to absorb soured assets banks are holding on their balance sheet."
Ummmmm....I do believe a lot of us are waiting for this little plan as well?