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Geithner to hold briefing Monday on toxic assets plan
WASHINGTON (MarketWatch) -- U.S. Treasury Secretary Timothy Geithner will on Monday provide details about the government's latest plan to help rid banks of toxic assets clogging the financial system. The Treasury Department said in a press release that it will hold the briefing at 8:45 a.m. EDT on Monday. The Treasury Department's program involves setting up a new investment fund to buy mortgage-related securities and other assets weighing down bank balance sheets. The new Public Private Investment Program would combine taxpayer money with private funds, aiming to buy loans and free up banks to renew lending.
Market Watch

Czech bank governor warns on economy
The Czech Republic could see its economy contract by as much as 2 per cent this year if the recession worsens in western Europe, warns Zdenek Tuma
FT

Timothy Geithner: My Plan for Bad Bank Assets
The private sector will set prices. Taxpayers will share in any upside.
Wall Street Journal

Toxic assets plan is big White House test
The Obama administration faces its latest moment of truth when Tim Geithner unveils much awaited plans to take hundreds of billions of toxic assets off banks' balance sheets
FT

Banking Transparency Gone: The Federal Reserve has been Slowly Moving to more Archaic Forms of Creating Credit. New Plan Will Subsidize Casino Loans for Investors with Taxpayer Money.
While the public is exercising a Freudian fixation on the A.I.G. scandal, misguidedly thinking that A.I.G. is an American company...
Mr. Swing

Financials Climb on Geithner Plan
The Nikkei climbed 1.8% Monday with financial stocks leading as investors awaited Geithner's plan to clear toxic assets off U.S. banks' books.
Wall Street Journal

Treasury to detail toxic assets plan on Monday
WASHINGTON (Reuters) - U.S. Treasury Secretary Timothy Geithner on Monday will announce plans for a public-private effort to rid banks of toxic assets at the heart of financial woes that have driven the economy into a deep recession.
Reuters

ECB could cut rates, take other steps: Trichet
LONDON (Reuters) - European Central Bank President Jean-Claude Trichet said on Monday the bank can cut interest rates further but that its deposit rate was already at very low levels, and added it could use more non-conventional measures to help the troubled banking system.
Reuters

India takeover boom expected to revive after debt reduction - Financial Times
India has plummeted from being one of Asia&os;s most lucrative markets for share offerings and mergers and acquisitions to one of the least active this year, with investment bank revenues in the country plunging to about one quarter of their levels a ...
Feed Digest

Japan government easing rules to allow more JBIC loans: report
The Japanese government is reportedly planning to suspend some restrictions on the state-run Japan Bank for International Cooperation as an emergency measure to increase access to dollar funds.
Market Watch

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