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Strategies & Market Trends : The Bird's Nest

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From: clutterer	2/27/2009 1:44:12 PM
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Blackstone talks to Treasury on how to revive system Fri Feb 27, 2009 12:23pm EST By Megan Davies NEW YORK (Reuters) - Blackstone Group LP (BX.N) is talking to the U.S. Treasury and the Federal Reserve about ways to help get the financial system going again, Chief Operating Officer Tony James said on Friday. U.S. Treasury Secretary Timothy Geithner is aiming to unfreeze credit markets by way of a new program that would combine public and private capital in a fund that would buy troubled bank assets of up to $1 trillion. James told reporters on a conference call that he had not seen enough details on the Public-Private Partnership proposal to know what opportunities will open up. But he said he was getting encouragement from the Treasury and Fed to make capital available. "We are talking to government officials both at Treasury and the Fed and the administration, in terms of not only what they're planning but in terms of anything we can do to help," he said. "We are also providing them with a few ideas that we think are constructive for their consideration on how to get the system going again," James said.

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