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Obama say toxic debts plan critical to recovery

Posted on: March 24, 2009


Reuters – Tuesday, March 24

WASHINGTON, March 23 – President Barack Obama said a toxic debt plan unveiled by his administration on Monday was critical to the U.S. economic recovery but stressed that it would not get credit flowing again overnight.

“The good news is that we have one more critical element in our recovery but we still have a long way to go and we have a lot of work to do,” he told reporters after meeting top economic policymakers, including Federal Reserve Chairman Ben Bernanke and Treasury Secretary Timothy Geithner.

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