“Rescue Plan Faces Delay in Hiring Asset Managers.” So reads the headline of a news story in today’s Wall Street Journal.
The story goes on to say:
Treasury won congressional approval for the program on Oct. 3. It said at the time that it would quickly hire asset managers, and that the program could be up and running within a few weeks.
Several hurdles have arisen, including concern over the fees the government will pay asset managers, as well as a lack of manpower at Treasury, said people familiar with the matter. The delays have contributed to investor uncertainty about how effective the rescue plan will be.