Treasury Chief Tim Geithner and Fed Chief Ben Bernanke plan $1 trillion in funding for public-private partnerships. The NYT reported:
America's shadow banking system caused much of the global financial meltdown. Now they get taxpayer subsidies to buy banks? How far down the rabbit hole will America go? The Carlyle Group and their PEU brethren win again. (PEU-private equity underwriter)
The Treasury Department and the Federal Reserve plan to spend as much as $1 trillion to provide low-cost loans and guarantees to hedge funds and private equity firms that buy securities backed by consumer and business loans.
The Fed is expected to start the first phase of the program, which will provide $200 billion in loans to investors, in early March.
America's shadow banking system caused much of the global financial meltdown. Now they get taxpayer subsidies to buy banks? How far down the rabbit hole will America go? The Carlyle Group and their PEU brethren win again. (PEU-private equity underwriter)
