Take Two on Geithner's Toxic-Mortgage PlanJane Sasseen
In a much-anticipated move to unfreeze credit markets, the Obama administration on Mar. 23 issued details of its "public-private investment program," to remove hundreds of billions of dollars in toxic mortgage assets from the balance sheets of financial institutions. The plan would deploy up to $100 billion in federal funds and capital from private investors to purchase up to $500 billion in troubled assets, and could be expanded to cover $1 trillion of the assets over time.
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