Wonderland Wire

news that’s really fit to print

U.S. Gov’t Considers Becoming Bank Shareholder

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20 Apr 09 | AFP

US President Barack Obama’s economic advisers have determined that they can shore up top US banks without asking Congress for more money by converting loans into stock, The New York Times reported.

Citing unnamed administration officials, the newspaper said the move would convert the US government into part owner of some key banks.

White House and Treasury Department officials now say they can stretch what is left of the 700 billion financial bailout fund further than they had expected a few months ago, the report said. >>>


Written by Editors

20 April 2009 at 3:39 pm

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