‘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.
8 February 2013•2 mins read
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