Thursday, June 04, 2009

Toxic Asset Relief Program: DOA

The administration's plan to buy bad debt from banks to help them clear their balance sheets is on indefinite hold due to lack of interest from the banks.

Ezra analyzes what this means: either a) banks would be rendered insolvent if they participated (i.e. the plan wasn't right to achieve its intended purpose of saving banks) or b) banks no longer need the help.

No comments: