By SPA,
Washington : The Bush administration says it is moving quickly on a number of fronts to get a $700 billion rescue program up and running, including consulting with private law firms on the best way to buy ownership shares in a broad number of banks.
The administration on Monday announced the selection of a team of interim managers, picked an outside firm to help run the program and tapped Federal Reserve Chairman Ben
Bernanke to head up the oversight board guarding against conflicts of interest, Associated Press reported.
Neel Kaskhari, the assistant Treasury secretary who is interim head of the program, said officials were developing the guidelines that will govern the purchase of bad assets and was consulting with six specialist law firms on how the government will take partial ownership of banks.