US: Obama confident latest bank rescue plan will work
24 Mar 2009 3:22
WASHINGTON, March 23 AP - US President Barack Obama says his team is "very confident" the latest bank rescue plan will work to free up credit.
Obama says the plan to buy up toxic assets will be handled in a way that allows taxpayers to share in the upside as well as the downside.
The president spoke briefly to reporters in the cabinet room after his administration released a plan to entice private investors to buy up bad bank assets.
He said the good news was that the nation now had "one more critical element" in a multi-pronged effort to help the economy recover.
Obama also said the depressed housing market was starting to show glimmers of hope.
