Six weeks ago, the Obama Administration rolled out a plan to bailout banks. Hyped as a big time announcement, it was instead a public relations disaster. Today, the White House hopes to get things right on the second try.
Back on February 10, Treasury Secretary Timothy Geithner gave a bank bailout speech that was short on details - today that is expected to change - as the administration lays out how it will buy up $1 trillion in bad assets on the balance sheets on financial institutions.
Last month when Geithner's effort was flat out panned in Congress and on Wall Street, the markets lost hundreds and hundreds of points.
We'll see today if the details get a good reception or if they cost investors some more money.
The plan is a public-private partnership, where the feds will pony up $200 billion to start from the Wall Street bailout law.
The idea is to use that money to entice private investors to join the effort to buy up mortgage backed securities - so called "toxic" assets that banks and other firms are holding.
Remember, this was supposed to be the focus of the Wall Street Bailout, but then that changed along the way.
Officials say the best part about this idea is that it isn't really a bank bailout per se, but an effort to use the private sector to fix banking system troubles related to mortgage backed securities that no one wants right now, but that could still have long term value.
Let's see what the politicians, the experts and the markets think about this second bank bailout roll out.
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