Dude, I should bet on the races or something, since I "called it" on what the Obama administration would do about the banking crisis. Check this out from my Monday, March 9 2009 blog post after listening to This American Life's Alex Blumberg with NPR's Adam Davidson":
I quoted from an article from the Cleveland Fed:
An alternative to the Swedish method that is both bank and borrower-based was attempted by Mexico in the late 1990s, with a program called Punto Final...
And summarized it as this -
That means instead of plain old nationalizing a bank, the country does a mix -- like joint ownership.
And that's sorta what this is...quote from NPR's coverage:
...Term Asset-Backed Securities Loan Facility, or TALF...[is] a partnership to acquire the bad loans. TALF would buy the loans from banks and then bundle them into privately administered investment funds that would be partially guaranteed by the Federal Deposit Insurance Corp.
Full story here.
Treasurt Fact Sheet, released today, here.
I quoted from an article from the Cleveland Fed:
An alternative to the Swedish method that is both bank and borrower-based was attempted by Mexico in the late 1990s, with a program called Punto Final...
And summarized it as this -
That means instead of plain old nationalizing a bank, the country does a mix -- like joint ownership.
And that's sorta what this is...quote from NPR's coverage:
...Term Asset-Backed Securities Loan Facility, or TALF...[is] a partnership to acquire the bad loans. TALF would buy the loans from banks and then bundle them into privately administered investment funds that would be partially guaranteed by the Federal Deposit Insurance Corp.
Full story here.
Treasurt Fact Sheet, released today, here.
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