Reuters Photojournalism
Our day's top images, in-depth photo essays and offbeat slices of life. See the best of Reuters photography. See more | Photo caption
The SpaceX mission
A privately owned unmanned rocket blasts off on a mission to be the first commercial flight to the International Space Station. Slideshow
Treasury's Geithner mulls asset fund structure options
WASHINGTON |
WASHINGTON (Reuters) - Treasury Secretary Timothy Geithner on Tuesday said the Treasury was exploring a range of structures for a public/private investment fund that could eventually soak up $1 trillion of distressed assets from American financial institutions.
In prepared testimony before the Senate Banking Committee, Geithner said he would seek input from the panel in designing both the asset fund and a housing plan that aims to prevent affordable foreclosures and reduce mortgage interest rates.
Geithner said the investment fund, announced earlier on Tuesday, "will provide government capital and government financing to help leverage private capital and get private markets working again. This fund will be targeted to the legacy loans and assets that are now burdening many financial institutions."
(Reporting by David Lawder)
- Tweet this
- Link this
- Share this
- Digg this
- Reprints
Follow Reuters