Revised Rescue Plan, SPX 1020 +/- & BKX

US Outlines New Initiatives To Unfreeze Credit Markets

October 10, 2008 12:37:23 PM

$BKX 48.84 reversed from 47 +/- double bottom formation

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=32784579

Revised Rescue Plan at a Glance

• US Treasury will buy up to $250 billion in senior preferred, nonvoting shares in financial institutions.

Maximum purchase will be $25 billion per institution.

• Nov 14 deadline for banks to participate in equity purchase program.

• Preferred shares to pay 5 percent a year for first 5 years, 9 percent after 5 years.

• Firms in program must adopt Treasury's standards on executive pay and corporate governance.

• Compensation for top execs won't be tax deductible above $500,000.

Nobel Prize Winner on the Economy
Insight on the government's financial rescue plan, with Paul Krugman, 2008 Economic

http://www.cnbc.com/id/15840232?video=889401836&play=1