public private investment program: The PPIP Could Be Done Before It Starts
- 06/07/09 04:02 AM
The Wall Street Journal is reporting that the PPIP, the Public-Private Investment Program that was designed by Geithner, the Fed, and the FDIC, may actually never come to fruition. The program was designed to leverage billions of TARP money into nearly $1 trillion worth of tax-payer backed loan guarantees in an effort so remove toxic assets from banks balance sheets so as to "get credit moving again." There are several reasons why this plan was a fraud and I am pleased that this ship may be sank. First, if the motive was really about credit, then shouldn't the $700 billion in TARP money we … (2 comments)
public private investment program: "Bailed-Out Banks Eye Toxic Asset Buys"
- 04/03/09 03:45 AM
"Bailed-Out Banks Eye Toxic Asset Buys". This is the headline from a report put out by Reuters today talking about how, "U.S. banks that have received government aid, including Citigroup, Goldman Sachs, Morgan Stanley and JPMorgan Chase, are considering buying toxic assets to be sold by rivals under the Treasury's $1 trillion plan to revive the financial system". Time out. I want to make sure I understand what is going on here because I didn't go to a fancy Ivy League school or work on Wall St. Back in October we were told by then Treasury Secretary Hammering Hank Pauslon that we needed … (8 comments)
public private investment program: Who Needs Congress When You Have The Fed, FDIC, and Treasury?
- 03/26/09 05:50 PM
Despite all of my and millions of Americans frustrations and disappointments with Congress over the past several months, as least logistically speaking, we had representation in Washington. We may not have liked what they were doing, but it is our own fault, we voted for them. That was until the Fed, FDIC, and the Treasury Department teamed up to leverage $100 billion of TARP (tax payer) money into possibly $1 trillion in loans which will be guaranteed by the FDIC so that investors can purchase the new and improved "legacy (don't call them toxic) assets" from banks. This scheme that could ultimately put the tax payer on the hook for … (7 comments)
The Wall Street Journal is reporting that the PPIP, the Public-Private Investment Program that was designed by Geithner, the Fed, and the FDIC, may actually never come to fruition.
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