Geithner Bets $1 Trillion On 'Uninvestable' Banks
Evening Standard - London › March 24, 2009
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Summary
IN almost any context, $1 trillion is a fabulous amount of money.
When it comes to the latest American banking bailout, it barely scratches the surface, which shows the size of the mess in which that industry remains engulfed.See the full content of this document
Extract
Geithner Bets $1 Trillion On 'Uninvestable' Banks
A mere trillion is just 8% of the $13 trillion of toxic assets that banks, by some estimates, have clogging their balance sheets, holding up the US economy from any hope of recovery.
US Treasury Secretary Timothy Geithner, who is mastermi...See the full content of this document
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