‘Bad bank’ plan to target $1tn in toxic real estate assets
US Treasury Secretary Timothy Geithner admits the strategy will ‘cost money, involve risk, and take time’, as he outlines plans to create a public-private investment fund to help banks get rid of their ‘legacy’ loans and assets, as well as expand the government’s lending scheme to include help for commercial mortgages.
21 January 2013•2 mins read
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