ppip

Flush with cash from a $585 billion stimulus plan that experts say is working well, China's $200 billion sovereign wealth fund is planning to make inroads into the U.S. mortgage market. According to Reuters, the China Investment Corp. (CIC) plans to invest up to $2 billion in toxic U.S. property...

Poor Bill Gross! Even after the New York Times devoted pages of its magazine to a puff piece about him and his upcoming role in the latest government project to further enrich a few dozen Wall Street billionaires, he still did not make the cut. But he claims that his $747 billion bond fund decided...

The Treasury Department has over 100 applications from would-be investment managers who want to buy toxic bank assets under the Public-Private Investment Program (PPIP). While that sounds promising for the success of the plan, banks actually don't want to sell their assets at the price investors...

Now that the banks have their training wheels on -- now that they've shown they can raise private funds and clean up their balance sheets without depending on the FDIC's Legacy Loan Program (a.k.a., "toxic-assets program") -- the FDIC plans to use the TARP funds slated for the program to sell...

The idea of buying toxic waste from banks has already failed once -- and now it looks poised to die a second death. The lesson here is that a bad idea is bad regardless of whether Hank Paulson or Tim Geithner pushes it. Why is it so hard for leaders to learn the difference between a bad idea and a...