On The Brink Of Bank Bailout 2.0
Treasury Secretary Timothy Geithner on Tuesday announced his plan to "restore confidence in the strength of U.S. financial institutions and restart the critical flow of credit to households and businesses." Core elements of the program include a new capital assistance initiative; a public-private investment fund; an initiative to reduce credit spreads and restart the securitized credit markets; an extension of the FDIC's temporary liquidity guarantee program; more oversight to help make banks accountable and.... a new Web site: FinancialStability.gov.
"We will begin immediately a process of consultation designed to solicit further input from key public and private stakeholders. Details on all programs will be posted on FinancialStability.gov over the course of the next several weeks," a press release stated. For now, the site doesn't offer much (see screenshot above). The site will eventually provide information disclosed or reported to Treasury by funding recipients as well as public companies' 8Ks, 10Qs and 10Ks. Read more here (subscription required).
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