On Friday, CEO's of top 15 US banks expressed their positive signal towards the administration's proposed strategy to survive the banking sector and revive the economy., They, in general, mention the proposed plan as a good one for present situation but they also expressed their need of full detail plan for further activity.
The CEO's, invited by president Obama, have a meeting on Friday in White House for discussing the present situation of economic downturn. Prior to this meeting, Timothy Geithner, The Secretary of Treasury, has a close door meeting with these executives on Thursday night.
The bankers all agreeing on the fact that every body's co-operation is the most important thing for facing and overcoming the crisis. They said they will work with the administration's plan to bring the better future. They said, they are happy to see the government's attempt to help them survive in this financial crisis. They expressed government's attempt to help the banking sector to ensure more lending activity is the right decision to revive the economy.
US administration announced their plan to recover the banking sector from their toxic assets by buying those assets from respective banks. For this reason, government will build a collaboration with private investors and expected to but $1 trillion of toxic assets from the banking sector. US administration will try, by buying those resources from bank, to make the banks for sustainable in the economy so that they can perform their desired function of economy-that is giving lending facility to the required industry for their need.
US President Barack Obama mentioned the meeting as a very positive one while the CEO's also mentioned the meeting as same.
The CEO's, invited by president Obama, have a meeting on Friday in White House for discussing the present situation of economic downturn. Prior to this meeting, Timothy Geithner, The Secretary of Treasury, has a close door meeting with these executives on Thursday night.
The bankers all agreeing on the fact that every body's co-operation is the most important thing for facing and overcoming the crisis. They said they will work with the administration's plan to bring the better future. They said, they are happy to see the government's attempt to help them survive in this financial crisis. They expressed government's attempt to help the banking sector to ensure more lending activity is the right decision to revive the economy.
US administration announced their plan to recover the banking sector from their toxic assets by buying those assets from respective banks. For this reason, government will build a collaboration with private investors and expected to but $1 trillion of toxic assets from the banking sector. US administration will try, by buying those resources from bank, to make the banks for sustainable in the economy so that they can perform their desired function of economy-that is giving lending facility to the required industry for their need.
US President Barack Obama mentioned the meeting as a very positive one while the CEO's also mentioned the meeting as same.
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