Released on: September 24, 2008, 2:00 am

Press Release Author: Peter Brice

Industry: Financial

Press Release Summary: “First Prime Group”: Financial chiefs faced tough questioning
by Senate Banking Committee.

Press Release Body: “First Prime Group” apparently said that stiff questioning of
the US Government’s plan to buy up illiquid assets from beleaguered financial
companies was to be expected.
US Treasury Secretary, Hank Paulson, US Fed Chairman Ben Bernanke and SEC Chairman,
Christopher Cox faced tough questions from the US Senate on the viability of the
plan and how it stood to affect the US taxpayer.

Sources close to “First Prime Group” reasoned that increasing the burgeoning US
deficit to nigh on 70% of GDP was always likely to be challenged.

As the debate progressed, money market dollar rates continued to remain stubbornly
high for 3 month money said the “First Prime Group” source.

The plan has a number of hurdles to overcome before the government can actually
begin acquiring the assets. Consensus among “First Prime Group” commentators appears
to be that senators are seeking reassurances from Mr. Paulson as to how much the
taxpayer will ultimately be asked to commit. The Asian-based investment management
firm said that the uncertainty fostered volatility which would present opportunities
for the acquisition of oversold, blue-chip stock.


Web Site: http://http://www.firstprimegroup.net

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