Search
 

Treasury Disperse Next $125B

WASHINGTON, DC-The Treasury Department will be making stock purchasing in nine more banks this week, having signed agreements with the institutions on Sunday night.

By Erika Morphy | Updated on October 27, 2008

For more on the financial crisis, check out GlobeSt.com’s Webinar , “Wall Street In a Freefall—The Winners and Losers.”

WASHINGTON, DC-The Treasury Department continues to aggressively use its new powers and $700 billion war chest to hack away at the credit crisis. The latest development, according to a TV interview this morning of Assistant Treasury Secretary David Nason, are agreements inked Sunday evening with nine new banks to receive capital in the next $125 billion tranche that will be used to bolster the banking system.

Treasury, which did not respond to a request for comment from GlobeSt.com in time for deadline, has not made a formal announcement about these banks–nor about reports that began circulating late on Friday that the program to buy troubled assets–the Troubled Asset Relief Program–will be expanded to include insurance companies. According to a news report that cited two unnamed sources in the Treasury Department, the agency has assigned a team to examine how it might buy assets from insurance companies even though they are not federally regulated. The auto industry and foreign-owned banks are other entities that may eventually make their way to the program, according to Nason’s interview.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2025 ALM Global, LLC. All Rights Reserved.