Tuesday, November 25, 2008

New Lending Facility from Treasury, Fed for Consumer Lending

by Calculated Risk on 11/25/2008 01:45:00 AM

From Bloomberg: Treasury, Fed Said to Unveil Plan to Bolster Consumer Financing

The U.S. Treasury and Federal Reserve will unveil as soon as today a lending program to shore up the consumer-finance market, using money from the [TARP] ...

Treasury Secretary Henry Paulson ... scheduled a press conference for 10 a.m. New York time [Tuesday]
From the WSJ: New Facility Targets Consumer Lending
The lending facility, which will be operated by the Federal Reserve, is expected to provide loans to investors who want to buy securities backed by credit cards, auto loans and student loans ... Treasury will contribute between $25 billion to $100 billion to the facility from its $700 billion Troubled Asset Relief Program.
Your daily bailout facility ...