New Statement Calls For Banks To Stay In Private Sector

February 23, 2009

US (ChattahBox) – A joint statement released by Federal regulators have made it clear that they plan on assisting banks with their newly remodeled bail out program. But they have also made it clear that they are aiming for a non-nationalized solution.

The statement comes after various rumors circulating about the Federal governments plans to nationalize private banks. While most representatives in the Democratic party have denied this claim, Treasury Department, among other groups, are pushing for harsher limitations that would keep banks private.

“Because our economy functions better when financial institutions are well managed in the private sector, the strong presumption of the Capital Assistance Program is that banks should remain in private hands,” the official statement read.

“Moreover, we reiterate our determination to preserve the viability of systemically important financial institutions so that they are able to meet their commitments.”


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