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U.S. wants high aid threshold despite CIT woes
WASHINGTON (Reuters) - The U.S. Treasury, responding to the collapse of talks to rescue CIT Group Inc, said on Wednesday it aimed to maintain a very high threshold for government assistance to individual companies.
"Even during periods of financial stress, we believe that there is a very high threshold for exceptional government assistance to individual companies," a Treasury spokesperson said in a statement.
"We have a comprehensive and aggressive strategy to restore stability to the financial system as a whole so that credit flows to both businesses and consumers and puts us on a path to sustainable growth," the spokesperson said. "As part of that strategy, we have put in place a powerful set of innovative financing mechanisms to help restart the overall credit markets that are critical to growth."
(Reporting by David Lawder; editing by Andre Grenon)
