Insuring a Burning House: Feds to Buy Up Toxic Assets

by Benjamin Domenech on 1:14 am March 21, 2009

On Monday, expect a “three-pronged plan to rid the financial system of toxic assets” by selling them to nervous private-sector investors and creating an FDIC-backed entity to purchase and hold loans. Government “plans to contribute between $75 billion and $100 billion in new capital to the effort, although that amount could expand down the road.”

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