The Federal Reserve and Congressional leaders are close to announcing a comprehensive plan to stem the nation’s financial crisis. The plan aims to relieve financial institutions of mortgage-backed securities and other distressed assets that have led to ecomonic instability.
The plan, which is expected to be announced next week, will be the biggest government bail out since the Great Depression.
Source: http://www.latimes.com/business/la-fi-wallstreet19-2008sep19,0,1751143.story
Tags: Federal Reserve
