Geithner: PPIP to Start by Early July
From Bloomberg:
Geithner Says Toxic-Asset Plan to Start in Six Weeks Treasury Secretary Timothy Geithner said he expects a pair of government programs to help banks remove their distressed assets will start by early July ...
The Treasury’s Public-Private Investment Program will use $75 billion to $100 billion of government funds to finance sales of as much as $1 trillion in distressed mortgage-backed securities and other assets.
Here is Geithner's
prepared statement.
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