The Obama administration, through the Treasury Department, unveiled a renamed three part Financial Stability Plan to allow currently immobilized parts of the U.S financial industry to allow the flow of money to begin with support from the Federal government.

The announcement was made today by Treasury Secretary Timothy Geithner in Washington.

The program's three parts consist of: Additional capital for banks with a condition that they first pass a government stress test, a Public-Private Investment fund with an initial capacity for providing up to $500 billion in financing for bad assets weighing on financial institutions' balance sheets and the expansion of a Federal Reserve program to provide up to $1 trillion in loans for consumer lending businesses.

The plan will include $50 billion in federal rescue funds to try to curb the housing crisis by reducing monthly payments and establishing loan modification guidelines for government and private programs.

Timothy geithner