We’re almost ready to put a price tag on the toxic stuff

In the long-ago days before TARP, there was talk of PPIP, a plan to use government cash to clear the worst of the bad assets off banks’ books. More than a year later, the pieces are in place for investment firms to pool some newly raised capital with federal money and begin buying mortgage-backed securities.

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Tags: bailout, banking, distressed assets, government stimulus, investment management, loan losses, Public-Private Investment Program, public-private partnerships