That's A Relief. For A Second I Thought They Were Going To Spend Some Money
Neel Kashkari, the U.S. Treasury official overseeing the $700 billion rescue of the financial system, said government equity injections will be aimed at ``healthy'' firms.
``We are designing a standardized program to purchase equity in a broad array of financial institutions,'' Kashkari, who heads the department's Troubled Asset Relief Program, said in a speech in Washington. ``The equity purchase program will be voluntary and designed with attractive terms to encourage participation from healthy institutions.''
They will have lots left over for the Christmas Party this year.
Treasury to Invest in `Healthy' Banks, Kashkari Says [Bloomberg]
