Obama to meet with bank CEOs

The President will ask the leaders of the largest banks in the country and to consider the needs of America as a country.

From Dan Lothian, CNN White House Correspondent

March 24, 2009: 7:18 PM ET

WASHINGTON (CNN) -- In a move to shore up support for the bank bailout plan, President Obama will meet with the CEOs of the largest banks in the country, two senior administration officials say.

e will "reiterate his belief that getting the economy back on track will require understanding," said the officials.

The President will also tell the CEOs that "each of us must look beyond our own short-term interests to the wider set of obligations we have to each other, in order for America to succeed."

The officials did not say when or where the meeting will take place.

On Monday, the Obama administration rolled out its plan to help banks get rid of so called "toxic assets." Those mortgages will be sold at auction to private investors. The government will make an initial investment of $70 to $100 billion dollars.

Link: http://money.cnn.com/2009/03/24/news/economy/bank_ceos/index.htm?postversion=2009032419