Daily round up: bailout

President Obama said yesterday that General Motors and Chrysler can expect further aid from his administration, but new conditions will be attached to any aid package. Read more

Treasury Secretary Timothy Geithner this week unveiled his plan to jump-start the banking system with the Public-Private Investment Program, or PPIP. It calls for Treasury to combine as much as $100 billion in bailout money with private capital to buy toxic assets lurking on banks’ books. To get hedge funds to buy into these rancid asset pools, the government plans a slew of inducements and guarantees that basically shield the hedge funds from risk. read more

"I think there's far too much faith in him," says [Neython] Murillo, referring to Obama's economic bailout plans to return the U.S. to prosperity. "He's just one man."
The thing about faith is that it often requires someone to believe in things they can't see or explain. But when you see everything around you falling apart, and the explanations why seem as varied as the commentators giving them, it can be difficult to have heart. Read more

The truth is that there will be no trillion-dollar bailouts for individual Americans. But there are a variety of measures beginning to take effect that are meant to prop up family finances. Read more

Declaring that the country had reached the end of the road with Detroit's automakers, President Obama on Monday mapped a new course for bailed-out General Motors Corp. and Chrysler in a series of moves designed to force the hands of workers, creditors and others with a stake in the companies. Read more