Huffpost Business

Geithner Switched Gears On Bailout Days Before Announcing Plan

Posted: Updated:

Just days before Treasury Secretary Timothy F. Geithner was scheduled to lay out his much-anticipated plan to deal with the toxic assets imperiling the financial system, he and his team made a sudden about-face.

According to several sources involved in the deliberations, Geithner had come to the conclusion that the strategies he and his team had spent weeks working on were too expensive, too complex and too risky for taxpayers.

Read the whole story at washingtonpost.com

Around the Web

Amid Bailout, Value Of Assets Debated : NPR

U.S. overpaid for TARP bailout assets according to the ...

Bailout Revamp May Use Private Bank for Bad Assets - WSJ.com

Treasury Overpaid for Bank Assets in Bailout, Oversight Panel Says ...