And in bailout news, the New York Times is reporting the Obama administration is considering a plan that would encourage Americans to directly invest in the troubled assets of taxpayer-rescued corporations. The proposal would essential create the equivalent of bonds to buy up the toxic securities such as bundled subprime loans. The plan is being promoted by financial industry lobbyists, including the money management giant BlackRock.
Report: Obama Mulls Bonds for Toxic Securities
HeadlineApr 09, 2009