Treasury adjusts plan for removing illiquid assets

02/10/2009 | Reuters

The Treasury Department's plan for getting illiquid assets off the books of troubled banks reportedly has shifted direction in recent days, moving toward incentives that would attract private capital to invest in distressed and nonperforming assets. The Obama administration slowly arrived at the conclusion that using a combination of public and private investment to clean up the balance sheets of banks would accomplish the same thing as putting those assets into a "bad bank," but at a much lower cost to taxpayers.

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