Finance

Finance

US Treasury Secretary urges to be optimistic about future economy

29 March 2009 14:43 (UTC +04:00)

Bakuâ€“ APA-Economics. Treasury Secretary Timothy Geithner has a message for Americans worried about the economy: Be optimistic about the future of this country, AP reported.
Geithner is making his first appearances on the Sunday talk shows to promote the Obama administration’s efforts to revive the ailing economy and get more control over the financial sector.
He says his plan to buy up those bad assets on banks’ balance sheets is critical. The goal is to clear away those bad assets and make sure banks have the capital to get back to making loans to businesses and people.
Geithner says the government needs banks to take a chance on lending.
He defends the public-private partnership plan to purchase banks’ toxic assets as the best way to minimize the risk of losses for taxpayers.
Geithner spoke on ABC’s "This Week." He also is appearing on NBC’s "Meet the Press."