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- The Obama administration plans to buy up to a half-trillion dollars in toxic assetsThe Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- Program was announced by Treasury Secretary Timothy GeithnerThe Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- Announced on March 23, 2009
- Dow Jones, S&P 500 and NASDAQ all responded positively to the news and opened with gainsThe Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- Initial bank rescue program was announced on February 10, 2009The Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- $75-$100 billion of the $700 bailout package will be used for bad-asset purchaseThe Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- Geithner supported the idea despite the government is carrying a lot or riskThe Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
- Geithner: "You can't solve a financial crisis without the government taking risks"The Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
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The Obama administration announced plans to buy up to a half-trillion dollars in bad bank assets from lending institutions. The plan intends to remove toxic assets from bank balance sheets and will be held primarily by the Federal Deposit Insurance Corp.The Houston Chronicle: Administration seeks to free frozen... (March 23, 2009)
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How it Works
The U.S. government plans to buy up to $500 billion dollars in toxic assets from ailing banks. The purpose of which will be to free up credit and get institutions to lend. A typical transaction will entail that every $100 in bad mortgages will have the backing of $7 from the private sector, which will be matched dollar-for-dollar by the U.S. government, the remaining $86 would be covered by a government loan provided by the Federal Deposit Insurance Corp.The Houston Chronicle: Administration seeks to free frozen... (March 23, 2009) -
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Subprime Mortgage Bailout Questions
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Should students get a bailout? 5 AnswersIf you honestly look at this from a financial perspective, 6.8%-8.5% for an unsecured loan is completely reasonable. Mortgages have real estate behind them, as... read more -
Why did CDO bond raters think they could mix new wine with old wine and not corrupt the mix? 1 AnswerHope mixed with the kind of bone-brainedness that put us all in this mess in the first place! But really, there have always been a variety of mortgage products.... read more -
What are some of the details of the Mortgage relief plan? 3 AnswersThe Associated Press released a brief article on some of the plan's highlights this morning (see link below). Some of these include: -"$2 billion in competitiv... read more -
Bailout this, bailout that...what past company do you think could have used a bailout? 6 AnswersProbably a bunch of small businesses proportionately spread around the country to help out the problem of losing business to corporations. Places that had senti... read more
view more questions...
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Featured Mahalo Topics
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On Twitter powered by Twitter
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Mortgage Cornered: Bad Credit Mortgage Refinance – Mortgage Bailout Help with Bad Credit Scores - Subprime... http://tinyurl.com/ycotr93
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Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? - Subprime Blogger (blog) http://bit.ly/9swgLv #mortgage #realestate
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RT @LindaBlog: New post, "Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? – Subprime Blogger (blog)" - http://bit.ly/cKTQUR
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Mortgage Cornered: Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? - Subprime Blogger ... http://tinyurl.com/yeychbh
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New post, "Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? – Subprime Blogger (blog)" - http://bit.ly/cKTQUR
view more tweets...
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On Twitter powered by Twitter
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Mortgage Cornered: Bad Credit Mortgage Refinance – Mortgage Bailout Help with Bad Credit Scores - Subprime... http://tinyurl.com/ycotr93
-
Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? - Subprime Blogger (blog) http://bit.ly/9swgLv #mortgage #realestate
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RT @LindaBlog: New post, "Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? – Subprime Blogger (blog)" - http://bit.ly/cKTQUR
-
Mortgage Cornered: Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? - Subprime Blogger ... http://tinyurl.com/yeychbh
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New post, "Obama Refinance Plan – Need Mortgage Bailout Help in February 2010? – Subprime Blogger (blog)" - http://bit.ly/cKTQUR
view more tweets...
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