Okay, the bailout/rescue plan has been signed by Bush. Now what?
Treasury Secretary Henry M. Paulson Jr. said agency workers were already working on details to put the rescue plan into effect, so that no time will be lost now that the president had signed the legislation.
The problem seems to be that banks won't lend to anyone including each other because of uncertainty about the ability of the borrower to pay the loans back. The underlying quality of the borrower's assets (particularly mortgage debt) which can be used as collateral would seem to be in question. If you happen to be a trained credit appraiser you could find a good civil service job real quick, I'd imagine.
Posted by Linkmeister at October 3, 2008 09:51 AM | TrackBack