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: The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C.

Feds to Buy Toxic Assets

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From the Associated Press via Yahoo! News: "Administration seeks to free frozen credit markets," by Martin Crutsinger--

The Obama administration launched a new effort Monday to end a paralysis in lending, saying it will team with investors to sop up a half-trillion dollars of bad assets from banks that have been reluctant to make loans to consumers and companies.

In announcing the program, Treasury Secretary Timothy Geithner pleaded for patience, saying that work to rehabilitate an industry with such systemic problems must go forward despite "deep anger and outrage" over executive bonus payments.


--Posted by the Alton Illinois personal injury lawyers and the Alton Illinois car accident attorneys of Schaeffer & Lamere, P.C., handling lawsuits for accidents in Missouri and Illinois, personal injury Illinois and Missouri, products liability Illinois and Missouri, workers' compensation, medical malpractice Illinois and Missouri, Illinois truck accidents.

Full post as published by The Illinois Personal Injury Weblog of Schaeffer & Lamere P.C. on March 23, 2009 (boomark / email).

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