Commentary: Price seems to be sticking point in PPIP

05/22/2009 | Financial Times (subscription required)

Treasury Secretary Timothy Geithner said the government will launch the Public-Private Investment Program in July to encourage the sale of banks' troubled assets. Some senior bankers doubt the program will do much because bankers do not want to participate in auctions that result in asset prices lower than those on the books. The situation would put pressure on banks to increase write-downs. The Treasury and other officials are trying to prevent this, but many issues remain.

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