Tuesday, October 21, 2008

Accountants named for rescue program

WASHINGTON (AP) -- The government has selected two major accounting firms to help it manage the $700 billion rescue program for the financial system.

The Treasury Department said Tuesday it had chosen PricewaterhouseCoopers to be the auditor for the program. Ernst & Young will provide general accounting support.

The two firms will work on the part of the rescue program that handles the purchase of troubled assets from banks as a way of encouraging them to resume more normal lending. 


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