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44, Day 20: An Eye on Tuesday
Very little to report on President Obama's 20th day, except that the president returned to the White House after spending the night at the presidential retreat at Camp David. We doubt many of the next 80 days will be as quiet.
The biggest piece of news is that the administration's financial services bailout plan will come out on Tuesday, instead of tomorrow as originally planned.
Obama chief economic adviser Larry Summers went on Fox News Sunday to say the plan will lay out incentive plans for the private sector to invest in damaged banks. "It can't all be private capital, but with the right kinds of government guarantees and the right kinds of financing, strategic approaches, [Treasury Secretary Timothy] Geithner believes we can bring in substantial private capital," Summer said. And yes, it will include some type of "bad bank" to soak up some of the bad debts out there.
by J. Jennings Moss
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