Sun, Nov 22 2009
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Hutchison addresses Ike recovery funds, Wall Street bailout By Sherry KoonceThe Port Arthur News According to the Associated Press, the legislation that the administration is promoting would allow the government to buy bad mortgages and other rotten assets held by troubled banks and financial institutions. Getting those debts off their books should bolster those companies’ balance sheets, making them more inclined to lend and easing one of the biggest choke points in the credit crisis. If the plan works, it should help lift a major weight off an already sputtering national economy.
Separately, the AP reported, investigations have begun for four institutions whose collapse helped trigger the financial crisis. They include, mortgage giants Fannie Mae and Freddie Mac, Lehman Brothers Holdings, Inc., and insurer American International Group Inc. Still in the preliminary stages, the inquiries will focus on the financial institutions and the people who ran them, according to the AP. Contact this reporter at skoonce@panews.com. 
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