3 Major Banks Start Fund To Shore Up Credit Market

Citigroup, Bank of America and JPMorgan Chase are joining forces to create a fund that will buy the debt from their mortgage-backed securities. The new group, assembled at the urging of the benevolent and mysterious Dr. Treasury Department, call themselves The Super Bank Friends. Their undying quest: fighting together to prevent the credit market from collapsing and creating a rift in the space-time continuum that would transport America back to 1929.

Banks to Start Fund to Protect Credit Market [NYT]