The Dark Side of the Moon

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An Extensive, Powerful, Transformative--Hoarding

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An Extensive, Powerful, Transformative--Hoarding

Jim Freeman
Oct 14, 2008
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An Extensive, Powerful, Transformative--Hoarding

www.dark-side-of-the-moon.com
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Treasury Chief Says Banks Must Deploy New Capital

By MARK LANDLER

WASHINGTON — Describing the government’s financial bailout plan as “extensive, powerful and transformative,” Treasury Secretary Henry M. Paulson Jr. said on Tuesday that the injection of $250 billion into the nation’s banks was needed to restore confidence and avoid a collapse of the financial system.

Speaking shortly after President Bush used similar terms to describe the proposal, Mr. Paulson said the Treasury would make $250 billion available to banks to help recapitalize those banks and to get them lending again, among themselves and to businesses and consumers. . . . “The needs of our economy require that our financial institutions not take this new capital to hoard it, but to deploy it,”

--read entire article--

_____________________________________________________________ How quickly has restore confidence and avoid a collapse of the financial system become a cliche? A week? A month? One loses track. Frightened as t…

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