Share Of $700 Billion Fund To Be Managed By Women And Minority-Owned Firms

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[Financial Meltdown: Election 2008]



Women and minority owned firms are being considered as asset managers for $700 billion economic rescue fund that was announced by The Treasury department last week, The Black Star News has learned.

A spokesperson for Treasury declined to discuss the list of firms that have applied for a share of the whopping bail out fund but confirmed that Women and minority-owned companies are under consideration.

"The law does provide that the Treasury department should consider opportunities for women and minority-owned businesses," the spokesperson says.

Treasury will announce the asset managers "in the coming days," adds the Treasury spokesperson.

Treasury Secretary Henry Paulson has been pushing for the Fund for several weeks now. Congress initially rejected a version of the bail out Bill that gave Paulson unchecked powers.



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