Meetings Taking Place Today To Work Out Details Of Rescue

By: Associated Press Email
By: Associated Press Email

Washington (AP) Officials from the Treasury Department and the Federal Reserve are scheduled to meet later today with top executives from financial firms to work out details of the $700 billion plan aimed at thawing frozen bank lending that is stifling the economy.

Treasury Department spokeswoman Brookly McLaughlin said the meeting would take place at the White House. She said the talks were aimed at finalizing details on the financial market stability plan.

The plan could include the government taking partial ownership in banks and purchasing bad debt from financial companies. McLaughlin said leading financial market participants would participate in the discussions with Treasury and Fed officials.

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