White House takes on bad bank assets

By
March 24, 2009 02:02

 
X

Dear Reader,
As you can imagine, more people are reading The Jerusalem Post than ever before. Nevertheless, traditional business models are no longer sustainable and high-quality publications, like ours, are being forced to look for new ways to keep going. Unlike many other news organizations, we have not put up a paywall. We want to keep our journalism open and accessible and be able to keep providing you with news and analyses from the frontlines of Israel, the Middle East and the Jewish World.

As one of our loyal readers, we ask you to be our partner.

For $5 a month you will receive access to the following:

  • A user experience almost completely free of ads
  • Access to our Premium Section
  • Content from the award-winning Jerusalem Report and our monthly magazine to learn Hebrew - Ivrit
  • A brand new ePaper featuring the daily newspaper as it appears in print in Israel

Help us grow and continue telling Israel’s story to the world.

Thank you,

Ronit Hasin-Hochman, CEO, Jerusalem Post Group
Yaakov Katz, Editor-in-Chief

UPGRADE YOUR JPOST EXPERIENCE FOR 5$ PER MONTH Show me later

The Obama administration took on America's lending paralysis, announcing its plan Monday to take over up to $1 trillion in sour mortgage securities with help from private investors. Major stock indicators surged more than 6 percent, but the program still could face some resistance from a bailout-weary public and lawmakers, and from wary investors. It debuts after a week of Wall Street-bashing in Congress, where lawmakers were outraged over troubled insurance company American International Group Inc. paying $165 million in bonuses after taking billions in government rescue funds to stay afloat. President Barack Obama told reporters Monday his economic team was "very confident" the rescue plan would work and that taxpayers would share both in the upside of the plan as well as the burden of any losses. The goal, Obama said, is to get banks lending again, so "families can get basic consumer loans, auto loans, student loans, (and so) that small businesses are able to finance themselves, and we can start getting this economy moving again."

Join Jerusalem Post Premium Plus now for just $5 and upgrade your experience with an ads-free website and exclusive content. Click here>>

Related Content

70th Primetime Emmy Awards; The cast poses backstage with their Outstanding Comedy Series award
September 18, 2018
'Mrs. Maisel' takes home seven Emmy awards

By REUTERS