Crisis Legal NewsClick here to add this website to your favorites
  rss
Crisis News Search >>>



The United States is moving "very quickly" to remove the troubled home mortgage-based assets clogging the banking system, Treasury Secretary Timothy Geithner said Thursday.


"You?ll see us move very quickly in the next few weeks to lay out a plan to help deal with these real estate related assets that are at the core of the financial system," he said in an interview with CNN.

"And it is an important obligation of government to make sure that we're moving very, very quickly to try to address those challenges," he said.

He declined to state the amount of money required to clean up the bank balance sheets of the toxic assets amid speculation that it could cost about two trillion dollars.

"I wouldn?t look at those numbers," he said, when asked about the two trillion dollar figure.

But Geithner said the government would pour as much resources as required to restore the health of the financial system.

"And we?re going to do what it takes going forward and it?s going to take more to do it but we?re going to do it as carefully as we can, with strong protections to the taxpayer, with conditions to make sure the money is going to generate greater lending to the small businesses across the country."

The toxic assets, mainly linked to troubled US mortgages at the epicenter of financial turmoil, must be wiped off the banks' books for them to resume lending and jolt the economy from prolonged recession.


© Crisis Legal News - All Rights Reserved.

The content contained on the web site has been prepared by Legal Crisis News
as a service to the internet community and is not intended to constitute legal advice or
a substitute for consultation with a licensed legal professional in a particular case or circumstance.
 Law Firm Web Design Information
Law Promo can construct your law firm a brand new responsive website, or help you redesign your existing site to secure your place in the mobile world. We believe our work speaks for itself by showcasing quality design while reflecting our extensive experience in the online legal marketing industry. Law Firm Website Designs by Law Promo.| Law Firm Logo Design
   Latest Crisis Legal News
   Sponsored Links
Chicago Business Law Attorney
Corporate Litigation Attorneys
www.rothlawgroup.com
Fort Lauderdale Criminal Defense Lawyer
Miami Sex Crimes Lawyer
www.mishalilaw.com
Fort Washington Employment Law Firm
Attorney Marc E. Weinstein
www.meweinsteinlaw.com
Santa Ana Workers' Compensation Lawyers
www.gentryashtonlaw.com
Car Accidents Attorneys
New Rochelle Personal Injury
www.kboattorneys.com
Eugene Criminal Defense
Law Office of Max J Mizejewski
Family Law. Call 541.505.9872
www.mjmlawoffice.com
CPA Accounting Web Design
Finanace Office Web Designs
www.webpromo.com
Lorain Elyria Divorce Lawyer
www.loraindivorceattorney.com
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
Cobb County Criminal Attorney
Georgia Criminal Defense Lawyer
www.andrewschwartzlaw.com
San Francisco Trademark Lawyer
San Jose Trademark Lawyer
www.onulawfirm.com
Eugene Chapter 7 Bankruptcy Lawyer
Oregon Chapter 7 Bankruptcy Lawyer
www.willamettevalleybankruptcy.com