The Snowball - Warren Buffett and the Business of Life
NYU Stern Launches New Volatility Institute

Three-Pronged Approach To Banks' Toxic Assets Revealed

"Details of a three-pronged approach to relieve financial institutions of ’toxic’ assets will be revealed by the U.S. Treasury Department as early as Monday, the WSJ and NYT report. Details are expected relating to the public-private investment fund in particular, part of the Financial Stability Plan first laid out by U.S. Treasury Secretary Tim Geithner on February 10. (As we previously reported, the government established a website, www.financialstability.gov, with information on the plan, see especially the Fact Sheet announced on Feb. 10, and watch for updates on that site.) The three-pronged plan, according to Deborah Solomon and Damian Paletta in their article, U.S. Sets Plan for Toxic Assets (WSJ), will include:..."
read entire article

Source: AccountingWeb

Comments