msnbc.msn.com - 3/22/2009
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The Obama administration’s latest attempt to tackle the banking crisis relies on a new entity, the Public Investment Corp. to help purchase as much as $1 trillion in toxic assets.
firedoglake.com - 3/21/2009
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firedoglake.com —
I've just been reading the NYT report .
The central Treasury assumption, at least for public consumption,...
seems to be that the underlying mortgage loans will largely pay off, so that if the PPIP buys and holds, at an above-present-market price ...
(more)
James K. Galbraith Reponds to Geithner’s Toxic Asset Plan
online.wsj.com - 3/21/2009
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online.wsj.com —
The federal government will announce as soon as
Monday a three-pronged plan to rid the financial system...
of toxic assets, betting that investors will be attracted to the combination of discount prices and government assistance.
(more)
U.S. Sets Plan for Toxic Assets
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Administration To Unveil Toxic Debt Plan
Boots and Sabers —
... It’s getting worse . The Obama administration’s latest attempt to tackle the banking crisis and get loans flowing to families and businesses will create a new government entity, the Public-Private Investment Program, to help purchase as much as $1 trillion in toxic assets on banks’ books. The new effort, to be unveiled Monday, will be followed the next day with release of the administration’s broad framework for overhauling the financial system to ensure that the current crisis — the worst in seven decades — is not repeated. A key part of that regulatory framework will give the ...
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Video - Geithner: Toxic asset plan almost done
marketnewslive.blogspot.com 3/11/2009 — Treasury Secretary Timothy Geithner tells Charlie Rose in an interview that the toxic asset plan will provide low-cost government financing to private investors willing to purchase the bad assets on banks' balance sheets.
Treasury Unveils Toxic-Asset Plan
online.wsj.com 3/23/2009 — The government plans to use $100 billion in TARP funds to create a public-private partnership that would help banks remove troubled assets clogging their balance sheets. Statement
What A Toxic Asset Looks Like Up Close
simplifythepositive.blogspot.com 4/6/2009 — When you have this kind of perspective on these toxic assets, you begin to truly see how insidious this latest national financial calamity is for us. You see people who have put good money behind good faith, paying on first mortgages with 10% and 12% interest rates.
Treasury soon to offer details on toxic-asset plan
| U.S.
reuters.com 3/14/2009 — HORSHAM, England (Reuters) - The Treasury will offer more details in the coming week about how proposed public-private partnerships to take bad assets off banks' books will work, a senior department official said on Saturday. The proposal for such ...
Geithner's Toxic Asset Plan
calculatedriskblog.com 3/21/2009 — The NY Times has some details ... From Edmund L. Andrews, Eric Dash and Graham Bowley: Toxic Asset Plan Foresees Big Subsidies for Investors The plan to be announced next week involves three separate approaches. In one, the Federal Deposit Insurance ...
Toxic Asset Rip-Off | OpenMarket.org
openmarket.org 3/23/2009 — That’s how analysts describe the trillion-dollar toxic-asset buy-up program proposed this weekend by the Obama Administration: “the president is putting forth his idea to have the Treasury become the new AIG. In order to get hedge funds to buy up ...
FT.com / Companies / Banks - Warning over US toxic asset plan
ft.com 4/24/2009 — The Obama administration will on Friday get the first indication of investor interest in its $1,000bn toxic assets plan amid fears that the threat of government intervention and banks’ reluctance to sell will deter fund managers from participating. ...
NY Times Example of a Toxic Asset
calculatedriskblog.com 2/2/2009 — “To date, the banks have stuck their heads in the sand and demanded that they be paid the price of good apples for bad apples.” Lynn E. Turner, a former SEC chief accountant Vikas Bajaj and Stephen Labaton provide us with an example of the different ...
Geithner details ‘toxic asset' purchase plan - Politics AP
miamiherald.com 3/23/2009 — WASHNGTON -- Treasury Secretary Timothy Geithner took the wraps off a long-awaited key component of the Obama administration's bank rescue plan Monday, detailing a public-private partnership to buy up the so-called toxic assets that are polluting ...
Sunday Talk: Toxic Asset Plan Defense, Support for Geithner
blogs.wsj.com 3/24/2009 — Administration officials dismissed suggestions that congressional furor over American International Group Inc.’s bonus payouts would make private companies reluctant to participate in the administration’s plan to rid the financial ...
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