Obama Administration Offers Specifics for New Rescue Effort

Earlier today, the Obama Administration unveiled specifics about a bank rescue initiative meant to help get bad assets of bank balance books. Stock Market Funding reports on some of the amounts of money involved with the latest bank rescue effort:

The administration also said Monday that the initial effort could grow to $1 trillion in purchases eventually, as the program proves successful in attacking the bad-books problem that has been at the heart of the worst banking crisis the United States has seen in seven decades.

The thought remains that as bad assets are removed from balance sheets, lending will increase between banks -- and also between banks and consumers. This is considered vital to getting the economy moving again.

As a result of the confidence felt by the financial markets on this plan -- and the details given by the Obama Administration -- it is thought that perhaps dollar weakness really is about to settle in to stay.