Podcast: Markets await detail of rescue, stimulus plans

Treasury Secretary Timothy Geithner announced the Obama administration's plan to rescue financial markets yesterday. The plan was long on promise and short on details, however, which sent markets spinning. Later in the day, the Federal Reserve stated it was ready to add $100 billion the TALF program, a move designed to increase consumer lending and invigorate the mortgage market. And, the Senate enacted its own version of the stimulus bill. Finance Professor and banking expert Herbert Kaufman sat down with Knowledge@W. P. Carey to discuss the events, starting with his reaction to Secretary Geithner's speech.

Treasury Secretary Timothy Geithner announced the Obama administration's plan to rescue financial markets yesterday. The plan was long on promise and short on details, however, which sent markets spinning. Later in the day, the Federal Reserve stated it was ready to add $100 billion the TALF program, a move designed to increase consumer lending and invigorate the mortgage market.

And, the Senate enacted its own version of the stimulus bill. Finance Professor and banking expert Herbert Kaufman sat down with Knowledge@W. P. Carey to discuss the events, starting with his reaction to Secretary Geithner's speech.