Tuesday, November 25, 2008

Paulson To Announce New Lending

Nov. 25 (Bloomberg) -- The U.S. Treasury and Federal Reserve will unveil a lending program to shore up the consumer-finance market, using money from the government’s $700 billion rescue, two people familiar with the effort said.

The Treasury and the Fed will help fund new loans packaged into securities for sale to investors, the people said. Treasury Secretary Henry Paulson, who scheduled a press conference for 10 a.m. New York time, said two weeks ago that he wants to spur lending for automobile purchases and college education while also reducing the cost of credit-card debt.


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credit card debt settlement said...

I think this is great! This economy definately needs more lending power! I could definately use lower interest rates!