On What Authority?

One thing I'm unclear about is what authority the Treasury has to force banks to do something. For instance, Paulson has told the banks that they must accept the $250 billion he's injecting. Then there's this:

“The needs of our economy require that our financial institutions not take this new capital to hoard it, but to deploy it,” Mr. Paulson said...
So first the banks must accept the money and now they're forced to use it as the government sees fit. What if they refuse? What legal authority does the Treasury have here?

Tuesday, October 14, 2008

0 Comments:

 
The Underground Imagination - Wordpress Themes is proudly powered by WordPress and themed by Mukkamu Templates Novo Blogger