We're just learning about it ... I spoke to Mr. (OTS Director John) Reich last night. I think they're still working out the details too.
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U.S. Secretary of Treasury Henry Paulson talks about financial markets and the Market Stability Initiative in the Cash Room of the Treasury Department in Washington, October 14, 2008. From L-R are: Paulson, Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair, President of the N.Y. Federal Reserve Tim Geithner, Currency Comptroller John Dugan, SEC Chairman Christopher Cox and OTS Director John Reich.
U.S. Treasury Secretary Henry Paulson (L) arrives to announce the Treasury Department's plan to take equity stakes in potentially thousands of banks totaling about $250 billion at the Treasury Department Cash Room in Washington, October 14, 2008. Also arriving at the news conference (2nd L-R): Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair, President and CEO of the Federal Reserve Bank of New York Timothy F. Geithner, OCC Comptroller John Duggan, SEC Chairman Christopher Cox, CFTC Chairman Walter Lukken, and OTS Director John M. Reich.
U.S. Federal Reserve Chairman Ben Bernanke address a news conference after Treasury Secretary Henry Paulson (2nd L) announced the Treasury Department's plan to take equity stakes in potentially thousands of banks totaling about $250 billion at the Treasury Department Cash Room in Washington, October 14, 2008. Standing besides from L-R, Paulson, FDIC Chairman Sheila Bair, President and CEO of the Federal Reserve Bank of New York Timothy F. Geithner, OCC Comptroller John Duggan, SEC Chairman Christopher Cox, CFTC Chairman Walter Lukken, and OTS Director John M. Reich.
U.S. Treasury Secretary Henry Paulson announces the Treasury Department's plan to take equity stakes in potentially thousands of banks totalling about $250 billion, at the Treasury Department Cash Room in Washington, October 14, 2008. Standing beside Paulson, L-R: Federal Reserve Chairman Ben Bernanke, FDIC Chairman Sheila Bair, President and CEO of the Federal Reserve Bank of New York Timothy F. Geithner, OCC Comptroller John Duggan, SEC Chairman Christopher Cox, CFTC Chairman Walter Lukken, and OTS Director John M. Reich.
WASHINGTON - OCTOBER 14: Secretary Henry M. Paulson (L) walks aways as Federal Reserve Chairman Ben Bernanke walks up to speak while flanked by Federal Deposit Insurance Corp Chairman Sheila Bair, Chief Executive Officer of the Federal Reserve Bank of New York Timothy F. Geithner, Securities and Exchange Commission Christopher Cox, Chairman of the Commodities Futures Trading Commission (CFTC) Walter Lukken, Director of the Office of Thrift Supervision (OTS) John M. Reich participate in a news conference at the Treasury Department to talk about the market stability Initiative October 14, 2008 in Washington DC. Earlier today President Bush met with the President's Working Group on Financial Markets at the White House to unlock the nation�s credit crisis.
WASHINGTON - OCTOBER 14: (L-R) Secretary Henry M. Paulson, Federal Reserve Chairman Ben Bernanke and Federal Deposit Insurance Corp Chairman Sheila Bair, Chief Executive Officer of the Federal Reserve Bank of New York Timothy F. Geithner, Securities and Exchange Commission Christopher Cox, Chairman of the Commodities Futures Trading Commission (CFTC) Walter Lukken, Director of the Office of Thrift Supervision (OTS) John M. Reich participate in a news conference at the Treasury Department to talk about the market stability Initiative October 14, 2008 in Washington DC. Earlier today President Bush met with the President's Working Group on Financial Markets at the White House to unlock the nation�s credit crisis.
WASHINGTON - OCTOBER 14: (L-R) Federal Reserve Chairman Ben Bernanke, Federal Deposit Insurance Corp Chairman Sheila Bair, Chief Executive Officer of the Federal Reserve Bank of New York Timothy F. Geithner, Securities and Exchange Commission Christopher Cox, Chairman of the Commodities Futures Trading Commission (CFTC) Walter Lukken, Director of the Office of Thrift Supervision (OTS) John M. Reich and Treasury Secretary Henry M. Paulson participate in a news conference at the Treasury Department to talk about the market stability initiative October 14, 2008 in Washington DC. Earlier today President Bush met with the President's Working Group on Financial Markets at the White House to unlock the nation�s credit crisis.
If it seems to be working, if it's not broken, don't fix it; if everybody's making money, then the good times are rolling and nobody wants to be the one guy to put the brakes on