Historic deal to remove toxic mortgage assets close to approval in the US

The US Treasury and Federal Reserve are thrashing out a rescue plan to take illiquid mortgage assets out of the system.

WASHINGTON, DC – In a meeting held overnight on September 18, Federal Reserve chairman Ben Bernanke, SEC chairman Chris Cox and Treasury Secretary Henry Paulson spoke at length with Congressional leaders to hammer out a comprehensive approach to relieving the stress on financial institutions and markets.

Tired of acting on a case-by-case basis discussing the fate of individual institutions, the big three intend to tackle the problem head on by removing the illiquid mortgage assets that are

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