The Fed is Considering Creation Of A Repository For Banks' Bad Debt

Today, September 18, The Dow ups 459 points ahead of the bell after a report that the federal government is considering creation of a repository for banks' bad debt. The positive sentiment of the market was also driven by $180 bn injection from the Fed and other central banks into financial system.

According to CNBC, Treasury Secretary Henry Paulson is considering creation of an entity like the Resolution Trust Corp. that was formed after the failure of savings and loan banks in the 1980s.

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